BAKU, Azerbaijan, January 22. This week, it became known about a new appointment in the Central Bank of Azerbaijan (CBA), Trend reports.
According to the CBA, Umeyra Ibrahimova has been appointed as a new director of the Capital Market Policy and Supervision Department.
Furthermore, this week Governor of the CBA Taleh Kazimov met with Vice President of the European Bank for Reconstruction and Development (EBRD) for Policy and Partnerships Mark Bowman.
During the meeting, the current status and prospects of cooperation between the CBA and the EBRD were discussed. Besides, the parties discussed issues of EBRD-financed projects in Azerbaijan, as well as measures aimed at developing market relations in the country.
Also, this week, Azerbaijan and the EBRD discussed the current partnership status, joint projects, and promising cooperation areas
Moreover, it became known that EBRD has allocated a loan of up to $4.2 million to Azerbaijan's Az-Lead to boost the company’s recycling and refining capacity, and improve lead-recovery rates.
Furthermore, the EBRD is preparing a new country strategy for Azerbaijan. According to Matteo Patrone, Managing Director, Eastern Europe and the Caucasus (EEC) at the EBRD, the strategy will cover the period from 2024 through 2029.
"As you might already know, our current strategy focuses on helping diversify Azerbaijan’s economy; further expanding access to finance for local businesses, and supporting the country’s green economy. Our strategy is set for review in 2024, and throughout our continuous engagement with authorities, clients and partners, we acquire important elements that will be helpful for the preparation of the new strategy," he said.
"So we are quite optimistic about our future cooperation with Azerbaijan, be it in green finance, economic inclusion, sustainable infrastructure, or digitalization. We will take all the above milestones into consideration while preparing our next country strategy for 2024-2029," Patrone explained.
This week the Asian Development Bank (ADB) has raised almost 8.4 million Azerbaijan manat (around $4.9 million) in its first bond issue. The issue was structured as a currency-linked bond, denominated in Azerbaijan manat but settled in US dollars.
Also, commission-free money transfers from Türkiye to Azerbaijan have been launched through the Turan app. The Turan application, for the first time outside of Türkiye, has become available in Azerbaijan.
Moreover, it was noted that the Turkish "Turan Teknoloji Anonim Şirketi" (Turan) financial company is going to establish commission-free money transfers from Azerbaijan to Türkiye through bank cards.