JSC Turan Bank will receive $ 7 million for the development of lending to micro, small and medium enterprises. Yesterday the International Finance Corporation (IFC) approved the release of this amount, the bank said in a statement on its website.
According to the material, the allocation of the credit has been reviewed and pre-approved on 21 November. The purpose of the corporation is diversification and facilitating funding for the bank to support its operations in the sector of small and medium enterprises and promoting the development of non-oil sector of the local economy.
Turan Bank began operations in June 1992. Its shareholders are 6 legal entities (share 29.11%) and 22 individuals (70.89%). The bank has been dealing with small businesses since 2007. Its authorized capital is 47,002,080 manat. --17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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Данная инициатива направлена на цифровизацию процессов управления в сфере безопасности пищевых продуктов в Азербайджане, создание более эффективной и прозрачной системы за счет применения современных технологий.
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Azerbaijan’s President Ilham Aliyev has signed a decree confirming an agreement between the governments of Azerbaijan and Russia aimed at boosting transit cargo shipments along the "North-South" international transport corridor.
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