The World Bank has allocated Unibank $ 8 million (almost a quarter of the total amount envisaged) for lending to local agriculture.
According to the bank’s information, the money has been given to it as an agent of the project to enhance the competitiveness in the agricultural sector, implemented by the World Bank together with the government of Azerbaijan.
The project offers agricultural loans for up to 7 years in the amount of $ 500 thousand. The loans may be issued in manats and in USD.
"Support of the real sector of the economy remains one of the priorities of Unibank. The bank serves its corporate clients through four specialized branches - Gara Garayev, Icheri Sheher, Darnagul Unibank and Unibank Business Center," the information says.
Unibank OJSC received a license to operate in October 2002. The authorized capital mainly (66.21%) belongs to individuals. The major shareholders include the European Bank for Reconstruction and Development (12.15%) and the German company DEG (6.68%).
Recall, the government of Azerbaijan jointly with the World Bank signed an agreement for a loan of $ 34.5 million in June 2014 for the project aimed at strengthening the competitiveness in the sector of agriculture. The total cost of the project is $ 53,250,000. --17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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