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News From Azerbaijan >>
>> Slovenia to share experience in planning and managing technology parks with Azerbaijan
>> Agricultural Insurance Fund to appear in Azerbaijan
>> EU, UNDP extend support for vocational education development in Azerbaijan
>> Azerbaijan to strengthen control over targeted use of agriculture loans

31.5.2018 Slovenia to share experience in

Slovenia to share experience in planning and managing technology parks with Azerbaijan


Source:, 2018-05-08

On 14-18 May, representatives of the Institute of Education of the Republic of Azerbaijan and Baku Engineering University will visit Slovenia to learn from the countrys experience in planning and managing technology parks.

The visit shall serve as a learning experience and knowledge transfer opportunity between Technology Park Ljubljana and Baku Engineering University Technopark on how to build an innovation ecosystem in the country by boosting innovation capacity, knowledge and technology transfer. The participants will learn how to manage and bring together science, education, and industry in specially designated locations, namely entrepreneurship centres and technology parks.

The four-day visit is being organised by the European Commissions Technical Assistance and Information Exchange Instrument (TAIEX), in cooperation with Technology Park Ljubljana.

TAIEX is a demand-driven tool that supports partner countries with the adaptation of national laws, regulations and quality standards to match those of EU Member States in the framework of Cooperation or Association Agreements signed with the EU. In the Eastern Neighbourhood, TAIEX works with Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine

31.5.2018 Agricultural Insurance Fund to a

Agricultural Insurance Fund to appear in Azerbaijan


Source:, 2018-05-23

Agricultural Insurance Fund will be established in Azerbaijan, Executive Director of Azerbaijans Financial Market Supervisory Authority (FIMSA) Ibrahim Alishev said at presentation of the bill "On Agricultural Insurance" in Baku on May 23.

Turkish model "TARSİM" for agricultural insurance was also presented at the event.

The cooperation between the public and private sectors will arouse great interest among insurance companies and producers in this sphere.

Alishev stressed that FIMSA and the created working group have reviewed international experience in agricultural insurance mechanisms in the US, Spain, Israel, Canada and Turkey, as well as "TARSİM" model, which is an agricultural insurance mechanism in Turkey.

He added that the bill will be the additional support to the development of the non-oil sector.

The adoption of this bill will lead to an increase in business activity in this sphere, Mirza Aliyev, head of the State Service on Management of Agricultural Projects and Credits under the countrys Ministry of Agriculture, said.

The guests and experts from Turkey, representatives of a number of state agencies, local and international organizations, with whom FIMSA cooperates, representatives of banking and insurance companies, active members of the Azerbaijani Farmers Association delivered speeches at the presentation.

31.5.2018 EU

EU, UNDP extend support for vocational education development in Azerbaijan


Source:, 2018-05-24

With the launch of a new, USD 3.4 million project, the European Union and the United Nations Development Programme join forces to strengthen the vocational education and talent development portfolio of Azerbaijan, in line with labour market needs and national development plans in the country. The project titled Modernising Vocational Education and Training (VET) Centres in Azerbaijan came into effect in 2017 and will be implemented through 2020, focusing primarily on strengthening the vocational education and development capacity of two regions in Azerbaijan Ganja and Jalilabad.

In both regions, the project will capitalise on developing local talent as a pivotal backbone for a robust and knowledge-based economy. It will ensure that the most vulnerable sections of the workforce, including young people, women and persons with disabilities, have access to skills and resources that match labour market demand. To this end, UNDP will support national institutions in designing and rolling out new vocational education programmes in the non-oil sectors.

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31.5.2018 EU

Azerbaijan to strengthen control over targeted use of agriculture loans


Source:, 2018-05-24

In order to control the targeted use of loans, the State Service on Management of Agricultural Projects and Credits under the Azerbaijani Ministry of Agriculture will conduct monitoring of loans jointly with authorized credit organizations

One of the problems is that sometimes loans are used for personal purposes, which leads to an increase in the number of problem loans, said Mirza Aliyev, head of the state service. Therefore, we will carry out the appropriate monitoring jointly with authorized credit organizations. This will in no way become an obstacle for entrepreneurs.

He noted that the state service is also working to reduce the list of documents required in the process of issuing a loan.

In this regard, we are consulting with international organizations, he said. Earlier, individual authorized banks could request up to 15-20 documents from entrepreneurs. Presently, on average, up to 4-5 documents are required.

Until the end of the year, the state service plans to allocate up to 10 million manats of soft loans to entrepreneurs engaged in production and processing of agricultural products, he noted.

The issuance of loans through authorized credit organizations starts from today, he said.

The minimum amount of loan is 1,000 manats, and the maximum is 200,000 manats, he noted, adding that the maximum interest rate on loans is seven percent.

To this end, we signed protocols of intent with a number of Azerbaijani banks, the branches of which are located almost in all districts of the country, he said.

The protocols were signed by representatives of the International Bank of Azerbaijan, PASHA Bank, Kapital Bank, TuranBank, Rabitabank, Aqrarkredit CJSC, Finoko OJSC and Finance Invest OJSC.





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