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EU Delegation to Azerbaijan to render financial assistance to local businesses

Economy Materials 22 February 2022 12:38 (UTC +04:00)
EU Delegation to Azerbaijan to render financial assistance to local businesses

BAKU, Azerbaijan, Feb. 22

By Sadraddin Aghjayev - Trend:

The EU Delegation to Azerbaijan will render financial assistance worth two billion euros to the country's businesses, Head of the EU Delegation to Azerbaijan Peter Michalko said during the conference entitled "Support for the Azerbaijani government in creating a more favorable environment for small and medium-sized businesses and increasing their competitiveness", Trend reports.

Michalko said that this financing tool will cover about 25,000 businessmen.

“The Azerbaijani government has made a breakthrough in the development of small and medium-sized businesses,” head of the EU Delegation to Azerbaijan added. “We have seen this breakthrough by cooperating with the Small and Medium Business Development Agency of the Republic of Azerbaijan. We will continue rendering financial support to small and medium-sized businesses in Azerbaijan.”

Michalko also said that the EU Delegation to Azerbaijan analyzed the microcredit for businesses.

“As part of these operations, we gave our recommendations to the Azerbaijani side and plan to further integrate the European experience into Azerbaijan,” head of the EU Delegation to Azerbaijan said. “Moreover, we plan to render support to about 25,000 businessmen within our cooperation with Azerbaijan and allocate two billion euros for these purposes.”

Michalko also stressed that the EU Delegation and the Small and Medium Business Development Agency of the Republic of Azerbaijan are implementing the projects on the digitalization of business and the transition to green technologies.

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