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 economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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