Azerbaijan’s Agency for Development of SMEs meets ADB reps
Baku, Azerbaijan, Feb. 27
The Agency for the Development of Small and Medium-sized Enterprises (SME) under the Economy Ministry of Azerbaijan held a series of meetings with representatives of the Asian Development Bank (ADB) visiting Azerbaijan, Trend reports Feb. 27 with reference to the Economy Ministry.
At a meeting dedicated to state and private sector cooperation, Rina Alzate, international specialist in this field, informed about the models applied regarding this type of cooperation, and shared her opinion on the measures for the regulatory and institutional development of this sphere in Azerbaijan.
Also, considering the advanced international experience, recommendations and proposals for organizing the effective work of the Center for the Development of Partnership between the State and Entrepreneurs, which is a part of the Agency’s structure, were discussed.
At a meeting held with a delegation led by director of the Infrastructure Finance Department at ADB’s Private Sector Operations Department in South Asia, Central Asia and West Asia Shantanu Chakraborty, ADB representatives were informed about reforms in the development of SMEs in Azerbaijan, new support mechanisms, as well as activity of the SME Development Agency.
At the meeting, where the conditions for possible cooperation of SME development funds and business clusters were discussed, the importance of expanding cooperation with ADB in private sector development was emphasized and an exchange of views was held on the prospects for the development of relations.