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USAID, IFC Submit Reviews on Azerbaijan’s Small-scale and Middle-scale Entrepreneurship Development Program

Business Materials 24 November 2007 11:35 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / The Azerbaijani Economic Development Ministry received proposals from the US Agency for International Development (USAID) and the International Financial Corporation (IFC) regarding new State Program on Development of Small-scale and Middle-scale Entrepreneurship (for 2007-2012), the head of the Entrepreneurship Development Department in the Azerbaijani Economic Development Ministry Samir Nuriyev said on 23 November.

According to Nuriyev, the state program is adjusted with taking into consideration the proposals. The Ministry also expects UNDP, German Development Bank KfW, and the European Bank for Reconstruction and Development to submit their reviews.

"Next week we want to raise the issue on submission of the program to the Government without waiting for new proposals, as the program cannot be delayed more," he said.

The document was sent for expertise to 20 international fiscal organizations and they had to submit their reviews by 1 September. The German Society for Technical Assistance (GTZ), the Azerbaijan-US Chamber of Commerce and Industry (AMCHAM), the World Bank (WB) and TACIS coordinating office expressed their readiness to take part in further negotiations.

The document covers the issues both on improvement of legislative basis in the field of small-scale and large-scale entrepreneurship and non-financial assistance, application of financial tools, creation of business infrastructure (industrial towns, business clubs), improvement of production quality, and introduction of export tools. Nuriyev believes that it is high time to Europeanize the notion of small-scale and middle-scale entrepreneurship in Azerbaijan.

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