Capital markets have upgraded in Azerbaijan at a high level, the Manager of the World Bank for Financial Sector Rolf Bernd said at the specialized event dedicated to the results of the WB project today.
According to him, such a level of modernization can hardly be seen anywhere else, however, one of the main functions of the global structure is to improve the conditions and welfare of small and medium-sized enterprises, so the local government should continue its work to ensure the efficient use of capital markets, including in the course of privatization.
Recall, the World Bank in March 2011, allocated the Government of Azerbaijan a loan of $ 12 million for the project "Modernization of capital markets' at a total cost of $ 15.8 million. In addition, for this purpose the State Secretariat for Economic Affairs of Switzerland (SECO) has provided a grant of $ 1.6 million plus $ 2.2 million from the local Government with a goal of strengthening the financial sector and capital market instruments, and to support the non-oil sector in the financing through the capital markets. --17D-
Economics
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The volume of cargo transported along the Trans-Caspian International Transport Route (TITR) surged by 62% in 2024, reaching 4.5 million tonnes, Kazakhstan’s Prime Minister Olzhas Bektenov said during talks with his Georgian counterpart Irakli Kobakhidze on Wednesday, according to the Kazakh government’s press service.
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Azerbaijan’s Small and Medium Business Development Agency (KOBİA) held a Supervisory Board meeting on Monday, chaired by Economy Minister Mikayil Jabbarov, to review the agency’s 2024 performance and set priorities for 2025.
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In January 2025, the average price of the consumer basket (CB) compiled by the Turan agency in Baku, which includes 30 types of essential domestically produced food products, increased by 0.3%.
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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