Azerbaijan, Baku / Trend corr. I.Khalilova / Azerbaijani Ministry of Economic Development restored negotiations with the European Bank of Development and Reconstruction (EBDR) to finance small and medium business through the National Fund for Entrepreneurship Support (NFES), Heydar Babayev, the Minister of Economic Development, said.
The Ministry has been held negotiations with EBDR for two years,
The negotiations are also being held with other International Financial Institutions (IFIs), including the Asian Bank of Development and German Bank of Development KfW.
"National Fund accumulated experience within several years and we want to spend part of the funds for development of entrepreneurship through NFES," Babayev said.
The Ministry proposes not to mix funds from foreign and budget financing and to distribute credits of IFIs through NFES.