Azerbaijan’s state oil company SOCAR will be a technical consultant for Ionian Adriatic Pipeline (IAP) project, Murad Heydarov, head of SOCAR Balkan company, said. He added that the initial report had already beendelivered and at the first stage, the proposals for the specific project were given. “The specific project is the first line, which will…
Ambassador Extraordinary and Plenipotentiary of the United States of Mexico to the Republic of Azerbaijan Rodrigo Labardini has received Caspian Energy’s delegation headed by President and Editor-in-Chief of the Caspian Energy International Media Group Natalya Aliyeva. During the meeting the sides discussed possibilities of expansion of contacts on the informational level within the Caspian European…
The International Monetary Fund (IMF) has improved the inflation outlook in Azerbaijan for 2016 and 2017 to 10.2% and 8.5%, respectively, the fund’s report said. Earlier in April, the IMF expected inflation in Azerbaijan at the level of 12.8% for 2016 and at 9.5% for 2017. The IMF also expects inflation in Azerbaijan to decline…
The International Monetary Fund (IMF) can help Azerbaijan primarily by working with the authorities to enhance macroeconomic policies and frameworks and strengthen institutions – key ingredients in the reform process, Mohammed El Qorchi, IMF mission chief for Azerbaijan, said. “The shift to a new economic model, one based more on non-oil private sector growth, will…
The European Bank for Reconstruction & Development’s (EBRD) Board of Directors has adopted a decision on raising the bank’s stake in the equity capital of Holcim OJSC in Azerbaijan (formerly Garadagh Cement Plant) to 20%, according to the bank’s message. This move was made to continue supporting the company to improve energy efficiency through the…
Azerbaijan and Lithuania have reached an agreement to even more expand bilateral cooperation in railway sector, spokesperson for Azerbaijan Railways Nadir Azmammadov reported. The agreement was reached during a meeting between the head of Azerbaijan Railways CJSC Javid Gurbanov and Lithuania’s ambassador to Azerbaijan Valdas Lastauskas in Baku. During the meeting, the parties discussed the…
The Islamic Corporation for Development of the Private Sector (ICD) is discussing an opportunity of allocating $30 million to two Azerbaijani banks and a company. The agreements might be signed soon. The funds will be used to finance the projects in cotton-growing, food and textile industries. According to the ICD financing rules, the minimum amount…