On the deposit auction of the Central Bank of Azerbaijan on December 19 demand was 101 million manat, while the supply was 50 million manat.
The funds were raised at the weighted average rate of 14.30%, for a period of 14 days.
The Central Bank started holding such auctions in June 2016.
According to international practice, the main purpose of deposit auctions is the sterilization of money supply. At the time of deposit auctions the Central Bank receives commercial banks' deposits for placement. ----71D
Economics
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Azerbaijani state power company Azerenerji, SOCAR Trading, and Italy's Ansaldo Energia have signed a trilateral agreement on carbon credits, Azerenerji announced on Friday.
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The SOCAR-UNIPER joint venture inaugurated a 65 MW steam generator unit at the "Ethylene-Polyethylene" plant on Friday as part of activities held during COP 29. The project, aimed at boosting energy efficiency, is a significant milestone for the joint efforts of SOCAR and UNIPER in Azerbaijan’s chemical industry.
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French energy giant TotalEnergies is considering participation in solar and wind power projects in the Nakhchivan Autonomous Republic of Azerbaijan, a move discussed during talks in Baku on November 15 between TotalEnergies CEO Patrick Pouyanné and Azerbaijani government officials.
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Azerbaijan's Ministry of Energy, China Energy Overseas Investment Co. Ltd., and SOCAR Green LLC have signed an agreement to implement a 160 MW solar power project in the Fizuli district, Economy Minister Mikayil Jabbarov announced on social media on Wednesday.
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