Azerbaijan to launch new programs to support business in country
BAKU, Azerbaijan, Aug. 22
By Eldar Janashvili - Trend:
New programs to support business sector will be launched in Azerbaijan, the country’s Banks Association (ABA) told Trend.
According to the association, recovery and development of micro, small and medium-sized business (SMB) in the post-pandemic period depends on several factors, including levels of adaptation to new conditions, the specifics of the sphere in which these enterprises function and funds to be raised from banks.
It means that, although these programs provide the financing needed for development, all issues can not be addressed by lending alone.
Nevertheless, as ABA noted, banks are currently exploring the possibilities of providing more efficient services to SMB in accordance with the new conditions, and are interested in international experience in using digital solutions.
"Of course, in these conditions, entrepreneurs also need to be ready for new norms," said the ABA.
Thanks to the adaptation of entrepreneurs to new products, the efficiency of these steps will be notably increased, the association concluded.
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