Baku, Azerbaijan, Feb. 10
The European Bank for Reconstruction and Development (EBRD) has started the second session of a four-day workshop for women entrepreneurs who want to develop their entrepreneurial skills and understand key financial concepts to help their businesses grow, according to the EBRD press release Feb. 10.
On February 10, 2016 seventeen women entrepreneurs representing various sectors of the economy attended the workshop.
The workshop is a part of the EBRD's Women in Business program funded by EU, Sweden and the Early Transition Countries Fund. Over 50 million euros will be made available from the EBRD for credit lines channelled through partner financial institutions for on-lending to women-led SMEs (small and medium-sized enterprises).
This is combined with nine million euros in donor funding, enabling risk mitigation funds and technical assistance to partner banks, as well as business advice, training and mentoring for women entrepreneurs.
"We firmly believe that women's entrepreneurship plays an important role in creating jobs and driving economic growth," Jeff Ferry, associate director of the EBRD Advice for Small Businesses within the Small Business Initiative for South Caucasus and Russian Federation said.
"That's why, in our countries of operation, we help women entrepreneurs succeed and be more engaged in business."
"Our workshop series is based on international best practices and the curriculum is adapted and delivered in accordance with the local needs," he said. "It promotes and support women's entrepreneurship in Azerbaijan and more broadly women's participation in business."
Since starting work in Azerbaijan in 1993, the EBRD has helped over 700 enterprises access consulting know-how to help them develop and grow. The EU has provided 3.7 million euros to support this work in Azerbaijan since 2003 and Swedish International Development Agency contributed 47 million Swedish Kronor to the development of women entrepreneurship in Eastern Partnership countries.