BAKU, Azerbaijan, September 10. The European Bank for Reconstruction and Development (EBRD) announced its commitment to financing Azerbaijani banks in 2022 and beyond this week, Trend reports.
According to EBRD President Odile Renaud-Basso, the bank continued to engage with Azerbaijan's banking sector through difficult times, and this cooperation will further develop.
She noted that EBRD is currently financing local private banks and facilitating international trade.
Besides, it was reported this week about support of the EBRD, the European Union and Türkiye to the financial institutions of Azerbaijan.
Meanwhile, VTB Bank shared plans to maintain its presence in Azerbaijan market.
This week it was also reported about the signing of a memorandum of cooperation on the Joint Crediting Mechanism between Azerbaijan and Japan.
At the same time, the Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan launched an innovation for entrepreneurs who need loans up to 10,000 manat ($5,882) in order to expand the access of business entities to preferential loans.
The Azerbaijan Small and Medium Business Development Agency discussed the possibility of cooperation with the Asian Development Bank this week.