The Asian Development Bank will allocate to the development of alternative energy Azerbaijan's government sought $ 40 million., But later than planned - not February 2, 2016, as previously thought, and August 22, 2017.
According to the information, ADB for approval of the investment program mission of the bank will collect facts on the project on 1-8 April next year in order to review needs of the country for innovation on May 27.
Because of the required amount of Azerbaijan's share will amount to a fifth of the total funds - $ 8 million. The pilot project producing renewable energy from biomass is planned in the Oguz and Agjabedi regions – they will build two plants with a capacity of 16 MW for electricity and heat in these administrative units.
The state agency on alternative and renewable energy will be the contractor. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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