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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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