Repair work on farm irrigation and drainage infrastructure started in several villages in the Agdash and Yevlakh regions.
The State Service for Agricultural Projects and Loan Management at the Ministry of Agriculture told Turan that in 4 years it will improve the irrigation system on private farms of 75,000 ha.
Work is carried out within the project Integrated Development of Rural Areas. These projects are being implemented with the financial support of the International Fund for Agricultural Development (IFAD) and the Islamic Development Bank in 2012. These donors issued the government loans for 35 years (grace period of 10 years) in the amount of $ 19.7 million and $ 66.4 million respectively. Other international organizations provide technical assistance in the amount of $ 2.7 million. The Azerbaijani government is also involved in its funding ($ 13.1 million).
Work of Azerbaijani citizens, who will benefit from this project in four districts (Agdash, Yevlakh, Oguz and Sheki), is estimated at $ 2.4 million. Farmers in these regions have been able to access to subsidized agricultural credits. The project is to be completed in 2019. ----08B
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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