Azerbaijan Risk Professionals Association (ARPA) to advise the government on increasing the ability of local credit unions.
According to the structure of the mentioned services are included in the list of conditions for the project "Support to improve the living conditions and income growth internally displaced persons ", financed by the World Bank . There is also an agreement with the Government of the Association in the amount of 31.15 million manat .
Earlier, Turan reported on the approval by the World Bank ( October 2011 ) of a loan of $ 50 million for this project with total cost of $ 78.53 million , which the government's share - $ 28.53 million loan funds issued by the International Bank for Reconstruction and Development ( IBRD) for 20 years with a five year grace period.
The project consists of three components: improving the living conditions of internally displaced persons; finance small projects aimed at improving the social infrastructure in the areas where displaced people, expanding opportunities for their income.
The project will improve the living conditions of about 30 thousand people at the expense of 1.5 million small loans to the implementation of 200 projects.
Internally displaced persons are a category of citizens of Azerbaijan who were expelled from their homes as a result of the Armenian occupation of Nagorno-Karabakh and seven surrounding districts (about 18 % of the country). - 17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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