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 minimum wage in Azerbaijan, currently set at 345 manats, will be increased at the beginning of 2025 to meet the country’s international obligations. This was announced by economist and Member of Parliament Ali Mansimli during an interview with TV channel "24". According to him, the current minimum wage level does not meet the requirements of several international documents, which state that the minimum wage should be at least 60% of the average salary, which is 1000 manats. This means that the minimum wage in Azerbaijan should be 600 manats; however, it currently stands at only 34% of the average salary.
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The Cabinet of Ministers of Azerbaijan approved a series of amendments on September 25, to the laws regulating the circulation of medicinal products, as part of the implementation of the "Law on Amendments to the Law on Medicinal Products of the Republic of Azerbaijan" adopted on July 14, 2023. These amendments aim to align national legislation with international standards and strengthen the regulation of pharmaceutical product circulation in the country.
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The Ministry of Digital Development and Transport of Azerbaijan has approved a new regulation titled "Flight Operations Preparation Rule," aimed at enhancing the safety and efficiency of civil aviation activities. Decision number 3-27/3-7-16/2024 was adopted by the ministry’s collegium on September 12, 2024, in accordance with the law "On Aviation" dated December 22, 2023.
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The Ministry of Digital Development and Transport of the Republic of Azerbaijan approved a comprehensive set of airworthiness regulations aimed at ensuring the safety and reliability of the country’s civil aviation sector.
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