Azerbaijan, EBRD to cooperate on SMEs development
By Narmina Mammadova
Azerbaijan pays special attention to the development of small and medium-sized businesses. Thus, the country is involved in the process of stimulation their business activities.
Representatives of the Agency for the Development of Small and Medium-Sized Enterprises (SMEs) (KOBİA) of Azerbaijan were on a visit to the UK.
The Chairman of the Board of the Agency, Orhan Mammadov, held a series of meetings with the heads of the functional units of the European Bank for Reconstruction and Development (EBRD), the Agency said.
At a meeting with the head of the EBRD Small and Medium Business Development Program, Nadya Petkova, information on KOBİA activities was provided, issues on cooperation between the EBRD and KOBİA, implementation of programs envisaged to support and finance start-ups in Azerbaijan, and small and medium businesses based on international best practice were discussed.
An exchange of views on projects, implemented by the Bank for the development of small and medium-sized businesses in Azerbaijan, was held at meetings with the authorized representatives of the EBRD Project Preparation Fund and the EBRD Legal Transformation Program, Matthew Jordan and Michel Nussbaumer.
They also touched upon the issues of new areas of cooperation prepared by the EBRD in relevant fields for the future.
As a result of discussions, such areas of cooperation as exploring potential collaboration opportunities in the development of entrepreneurship, integration of the Azerbaijani Agency into the EBRD's global small and medium business network, preparation of projects within the framework of a partnership in the state-private sector, the use of technical support mechanisms for the development of small and medium businesses by the Bank were identified.
Small and medium-sized businesses play an important role in development of the country's economy.
The Agency for Small and Medium Business Development of Azerbaijan was established on the basis of the decree on improvement of management in the field of small and medium-sized businesses signed by President Ilham Aliyev in December 2017.
The task of the Agency is to ensure the consistency of reforms, as well as the improvement of the business regulation system and the application of effective coordination, enhancing the role and competitiveness of small and medium-sized businesses in the country's economy, and the compliance of the management system of this sphere with modern requirements.
As a single structure with special powers, through the Houses of SMEs, the Agency organizes, coordinates, evaluates and regulates the services rendered by state agencies and organizations in this area.
---
Follow us on Twitter @AzerNewsAz