BAKU, Azerbaijan, March 7. The Azerbaijan Microfinance Association (AMFA) implements projects to expand the access of women entrepreneurs to financial resources, Jala Hajiyeva, Executive Director of the association, told Trend.
According to her, currently, female entrepreneurs do not face any problems while financing their businesses.
"At the beginning of the 2000s, the awareness level of Azerbaijan's women entrepreneurs about loans and financial tools was only 4 percent, while today this rate reaches 30 percent," she said.
Hajiyeva noted that the majority of the business projects (over 70 percent) are in need of loans and external funding if they are implemented in the regions.
"We are working on providing financial means to women entrepreneurs in eight economic zones of our country. Over the past 20 years, together with various international and local organizations, we have conducted business training for over 4,000 women. Today's statistics, if compared with the data of the last ten years, suggests that women are interested in running their own businesses," she said.
The executive director of the association noted that until 2014, there were no tools in the financial sector of Azerbaijan that would support female entrepreneurship.
"Our joint grant program for women entrepreneurs with the EBRD [European Bank for Reconstruction and Development] was the first in this field; it promoted the development of women's entrepreneurship and also expanded the implementation of similar initiatives by other organizations," Hajiyeva said.
One of the main goals of the strategic plan of the Azerbaijan Microfinance Association (AMFA) for 2021-2023 is to create a favorable environment for AMFA members to quickly address changing market trends and serve customers through the application of high ethical and business standards.
Another goal of the association is to support institutional development and improve the knowledge base of AMFA members through the introduction of new educational and expert products.