BAKU, Azerbaijan, April 8. The Entrepreneurship Development Fund (EGF) of Azerbaijan has worked out its own ESG [Environmental, Social, and Corporate Governance] model, the Chairman of the Board of EGF under the Ministry of Economy Osman Khaliyev told Trend in an exclusive interview.
"The fund has created an ESG model in compliance with international standards that identifies the environmental, social, and corporate governance aspects of the management of financed firms, as well as potential hazards. Using this methodology, the fund actively works to prevent or reduce identified risks in the future," Khaliyev emphasized.
He also pointed out that the fund is diligently addressing such important issues as creating new jobs and providing preferential financial resources to women and young entrepreneurs.
"It's planned to create 3,154 new jobs as a result of projects financed by the fund in 2023. Of these, 398 projects that received preferential loans from our fund belong to women entrepreneurs and young entrepreneurs," added the chairman.
To note, the Entrepreneurship Development Fund of Azerbaijan provided preferential loans totaling 193.8 million manat ($114 million) to finance 3,276 investment projects in 2023.