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
Slovenia to share experience in
Slovenia to share experience in
planning and managing technology parks with Azerbaijan
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
countryĺs 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
The four-day visit is being organised by the European Commissionĺs 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
Agricultural Insurance Fund to a
Agricultural Insurance Fund to
appear in Azerbaijan
Agricultural Insurance Fund will be established in Azerbaijan, Executive
Director of Azerbaijanĺs Financial Market Supervisory Authority (FIMSA) Ibrahim
Alishev said at presentation of the bill "On Agricultural Insurance" in Baku on
Turkish model "TARSİM" for agricultural insurance was also presented at the
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
ôThe adoption of this bill will lead to an increase in business activity in this
sphere,ö Mirza Aliyev, head of the State Service on Management of Agricultural
Projects and Credits under the countryĺs 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.
EU, UNDP extend support for
vocational education development in Azerbaijan
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
ĹModernising Vocational Education and Training (VET) Centres in Azerbaijanĺ 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 ľGanja 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.
Read more at:
Azerbaijan to strengthen control
over targeted use of agriculture loans
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
ôOne of the problems is that sometimes loans are used for personal purposes,
which leads to an increase in the number of problem loans,ö said Mirza Aliyev,
head of the state service. ôTherefore, we will carry out the appropriate
monitoring jointly with authorized credit organizations. This will in no way
become an obstacle for entrepreneurs.ö
He noted that the state service is also working to reduce the list of documents
required in the process of issuing a loan.
ôIn this regard, we are consulting with international organizations,ö he said.
ôEarlier, individual authorized banks could request up to 15-20 documents from
entrepreneurs. Presently, on average, up to 4-5 documents are required.ö
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,
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.
ôTo 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,ö he
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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