Last week review (May 5-9)

May 5

Azerbaijan signed loan agreement on road project with ADB

Azerbaijan and Asian Development Bank signed a loan agreement within the fourth project of the Road Network Development Program.

The document was signed by Azerbaijani Finance Minister Samir Sharifov and ADB President Takehiko Nakao within the framework of the 47th annual meeting of Board of Governors held in Astana.

Funds in the amount of $45 million will be allocated for the construction of four bridges (one railway viaduct and three bridges across the river), reconstruction of the local roads in the city of Ganja (365 kilometers west of Baku).

Azerbaijan to chair ADB in 2015

Azerbaijan will take over the chairmanship of the Asian Development Bank in 2015, the Kazakh Minister of Economy and Budget Planning Erbolat Dossaev, who is also ADB Governor for Kazakhstan said.

Transferring symbols of the chairing state were solemnly handed to the Azerbaijani Finance Minister Samir Sharifov.

"We are grateful to the ADB management for the trust shown to Azerbaijan in making us President of the Asian Development Bank. We want to thank Kazakhstan for the high quality organization of the 47th meeting [ADB Board of Governors]. And next year, we will be glad to see all the delegates in our hospitable capital - Baku," Sharifov said.

The deputy chairs of the ADB will be the representatives of Sri-Lanka and Ireland in 2015.

May 6

Ilham Aliyev visits SOCAR-Georgia's administrative building in Tbilisi

Azerbaijani President Ilham Aliyev has visited SOCAR-Georgia company's administrative building in Tbilisi.
The central office, which is SOCAR's largest administrative building outside of Azerbaijan, combines the company's Georgian representative office and subsidiaries under SOCAR, headed by SOCAR Energy Georgia LLC.

TASIM participants prepare project development business strategy

The participants of the Trans-Eurasian Information Super Highway (TASIM) construction project have begun to prepare the business component of the project, Minister of Communications and High Technologies Ali Abbasov said.

At present, the TASIM project involves countries such as Russia (Rostelecom operator), Kazakhstan (KazTransCom operator), Turkey (TurkTelecom operator), and China (China Telecom operator).

The project envisages the creation of a major transit line from Frankfurt to Hong Kong.
The network that brings together the biggest information exchange centers of Europe and Asia will run through the territories of Azerbaijan, Turkey, Georgia, China, and Kazakhstan, to Germany.

The project is aimed at reducing poverty, accelerating economic growth. It may also play a leading role in region's development.

Azerbaijani gold producer signs sales agreement with Swiss mining group

Anglo-Asian Mining PLC (AAM), gold producer in Azerbaijan, signed a three-year contract with Industrial Minerals SA ('Industrial Minerals'), a Geneva based integrated trading, mining and logistics group. It is expected that Gedabek will exceed its target to produce 595 tonnes of copper for FY (Fiscal Year) 2014.

Azerbaijani Agriculture Ministry, FAO to implement new project

The Azerbaijani Ministry of Agriculture and the Food and Agriculture Organization (FAO) signed an agreement on the development of potato seed production not susceptible to infection.

The agreement was signed by Azerbaijani Minister of Agriculture Heydar Asadov and FAO sub-regional coordinator for Central Asia Mustapha Sinaceur.

The project will be implemented within two years.

May 8

Azerbaijan plans to start assembling tractors produced by U.S. AGCO

Ganja Automobile Plant of Azerbaijan and the U.S. AGCO company are negotiating on joint production of tractors under the four brand names in Azerbaijan, deputy director of the marketing and service plant, Konstantin Barabanov said.

AGCO is one of the world's leading manufacturers of agricultural machinery.

Plans are to produce tractors under the brand names of Challenger, Fendt, Massey Ferguson and Valtra.

"AGCO is a universally recognized leader in manufacturing agricultural machinery and spare parts complying with high international standards. Currently, we are negotiating with this company on the possibility of starting this production in Azerbaijan," he said.

Ilham Aliyev attended the opening of the Baku Center "ASAN Xidmət" No 4

The opening of the Baku Center "ASAN Xidmət" No 4 of the State Agency for Public Services and Social Innovation under the President of the Republic of Azerbaijan was held.

The opening of the center was attended by President of the Republic of Azerbaijan Ilham Aliyev.

The President met with the staff of the center.

The head of the department for work with law-enforcement agencies of the Presidential Administration, Fuad Alasgarov, said that the Baku Center "ASAN Xidmət" No 4 would provide services to some 407,700 people registered in the Sabunchu, Khazar and Pirallahi districts of the capital.

Azerbaijan represented by national pavilion at international exhibition in IT field

Azerbaijan will be represented by a national pavilion at the 26th International Exhibition of Information Technologies and Communications "CSTB-2014", to be held in Moscow on May 13-16.

More than 20 IT-projects of the state and private sectors will be exhibited at the national pavilion.

Azerbaijan's achievements in the field of telecommunications and information technologies will be demonstrated, the ministry said.

The Azerbaijani Ministry of Communications and High Technologies, Azerkosmos, BestComp Group, Ultra, Sinam, Dilmanc, Azercell, Azqtel, Azercell, Best Comp Group, Research Center of the Ministry, ASAN Service, Caspel, High-Tech Park, TASIM etc. will submit their decisions and projects.

May 9

Azerbaijani Central Bank submits draft mortgage strategy to country's government

The draft mortgage strategy is ready and has been submitted to the Azerbaijani government, Elman Rustamov, the head of the country's Central Bank (CBA) said.

"The mortgage strategy covers all the proposals, including those regarding the savings construction banks, building affordable housing on special conditions and other mechanisms. We will be able to start its implementation immediately after the document's approval," Rustamov said.

Rustamov went on to add that the regulator supports the formation of a single mortgage policy in the country.

1 dead, at least 20 injured in Washington D.C. shooting
1 dead, at least 20 injured in Washington D.C. shooting
Esper: U.S. will cut troop levels in Afghanistan to 'less than 5,000'
Esper: U.S. will cut troop levels in Afghanistan to 'less than 5,000'
Ukraine president says Kyiv staying out of U.S. internal politics, elections
Ukraine president says Kyiv staying out of U.S. internal politics, elections
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