BAKU, Azerbaijan, August 26. Uzbek payment service Ozon launched interest-free money transfers to Azerbaijan, Trend reports.
The European Bank for Reconstruction and Development (EBRD) is currently exploring potential collaborations with several Azerbaijani banks for the year 2023 and beyond.
"One of our key objectives in Azerbaijan is to strengthen local financial institutions so that they can in turn ensure that the private sector can readily access the necessary finance for its growth. We are actively driving the growth of financial markets as well," the head of EBRD operations in Azerbaijan, Nataly Mouravidze, said.
In addition, the EBRD is ready to review the strategy for Azerbaijan.
"Azerbaijan is working on creating more opportunities for investors who want to tap into its rich natural resources, strategic location, and growing private sector. As outlined in the country’s vision for 2030, today’s Azerbaijan prioritizes market-oriented reforms, business-friendly governance, and trade liberalization," Mouravidze said.
According to Mouravidze, the EBRD's next country strategy will take all these tenets into consideration. The review period is approaching fast, and the bank is already preparing to engage with authorities, clients, and partners.
"What I can say with confidence at this stage is that the diversification and greening of Azerbaijan’s economy and our efforts to expand local businesses’ access to finance are set to remain top priorities for our work in the country," she concluded.
Moreover, the world-famous Turkish electronic trading platform Trendyol has established a company in Azerbaijan.
According to the Association of Insurers of Azerbaijan, the "Insurance Festival" will be held from August 26 through September 7 this year. The Association notes that the festival is planned to be held first in Baku, on the territory of the Seaside National Park, and then in the regions of Sumgayit, Ismayilli, Ganja, Guba, Lankaran, Mingachevir, Gadabay, Sheki, and Zagatala.