Details announced for Azerbaijan-ADB new business project (Exclusive)
Baku, Azerbaijan, March 2
By Matanat Nasibova – Trend:
The Agency for Development of Small and Medium-Sized Enterprises (SMEs) continues to expand cooperation with the Asian Development Bank (ADB) as part of a joint project aimed at public-private partnership, Natig Hasanov, first deputy chairman of the board of the Agency, told Trend.
According to the deputy chairman, the implementation of the new project is connected with the construction of hostels at 2 universities in Azerbaijan.
"We are actively cooperating with ADB and are planning to further expand our relations. Bilateral negotiations are currently underway at the level of experts. After their completion, we are planning to move on to the hostel construction project. The project will be financed by the state and the private sector, as well as international organizations and financial institutions," Hasanov said.
According to the deputy chairman, the implementation of such a project should demonstrate the effectiveness of cooperation between the state and the private sector.
The Agency for the Development of Small and Medium-Sized Enterprises (SMEs) under the Ministry of Economy of Azerbaijan was established by decree of the President of Azerbaijan dated December 28, 2017.
The presidential decree of June 26, 2018 approved the statute and structure of the Agency. The main activities of the Agency are supporting the development of small- and medium-sized businesses in the country, participate in regulating the activities of small and medium-sized businesses, to strengthen the role of small and medium-sized businesses in the country's economy, to increase their competitiveness, to expand their opportunities and access to financial resources and to improve institutional mechanisms. support, coordination of public and private sector activities in this area.
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