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 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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