The European Bank for Reconstruction and Development (EBRD) in cooperation with TaiwanICDF (International Cooperation and Development Fund) has identified the local non-bank credit organization TBC Kredit a loan of $ 3.5 million.
As stated in the European Bank, it gives $ 2.5 million of this and the loan is intended to finance projects in the field of micro, small and medium enterprises (MSME).
The non-bank credit organization TBC Kredit operates in the financial market since 1999. Since December 2007, 75% of the company owned by the leading Georgian bank TBC Bank and 25% - ShoreBank International Ltd. -15D -
During its activity in Azerbaijan, the European Bank for Reconstruction and Development has invested in various sectors of the economy more than $ 2.1 billion. -15D--
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Yokogawa Europe BV have organized an "Executive Workshop" as part of a broader cooperation framework established under a Memorandum of Understanding (MoU) signed between the two companies, SOCAR said in a statement.
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Azerbaijan’s Parliament has ratified a landmark agreement on the development and transmission of green energy with Kazakhstan and Uzbekistan. The agreement, signed by the leaders of the three countries during COP29 in Baku last November, aims to promote renewable energy sources, enhance energy security, and support sustainable development.
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Azerbaijan’s non-oil and gas exports increased by 0.3% in 2024, reaching $3.4 billion compared to the previous year, driven largely by higher sales of agricultural and food products, according to the latest Export Review by the Center for Analysis of Economic Reforms and Communication.
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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