The WB reportedly believes Azerbaijan is about to be included into the list of average-prosperity states, with a middle-level income per capita. This means Azerbaijan will no longer receive soft credits from the WB after June 30, 2011. But the bank will still give advice to Azerbaijan at the new development stage.
Meanwhile the Chairman of the Central Bank of Azerbaijan, Elman Rustamov, said Azerbaijan would prefer investments in the non-oil sector rather than others at the new stage. This will increase the country"s economic stability. ----17D--
Economics
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Azerbaijan is set to host its Trade Forum on October 1, supported by “Pasha Holding” and jointly organized by the Small and Medium Business Development Agency (SME), Azerbaijan Customs representation, and the Logistics Companies Association.
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The inaugural Investment Forum on energy transition in Central Asia is set to take place on November 15-16 in Baku, Azerbaijan, organized by the International Renewable Energy Agency (IRENA) and Azerbaijan’s Ministry of Energy as part of the COP29 conference.
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At the advisory meeting of railway administrations held in Baku on September 19-20, Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC (ADY), met with Ufuk Yalçın, General Director and Chairman of the Board of the Turkish State Railways Company "TCDD Taşımacılık." The meeting marked the second time this year that officials have discussed expanding railway transport cooperation between Azerbaijan and Turkey.
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The Center for Analysis of Economic Reforms and Communication (CAERC) has completed its monitoring and evaluation of the first half of the year in relation to the "I State Program on the Great Return to the Liberated Territories of the Republic of Azerbaijan." This state program focuses on restoring infrastructure and resettling displaced populations in areas that were reclaimed during the 2020 Nagorno-Karabakh conflict.
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