The normal development of small and medium-sized enterprises in Azerbaijan requires funding of $ 2.3 billion.
It was forecast by the senior expert on banks of the International Finance Corporation (IFC) Camar Salim on the three-day workshop on "Loans secured by movable property in Baku" organized jointly with the National Confederation of Entrepreneurs of Azerbaijan (ASK). The foreign expert said that the seminar will focus on new tools and approaches to enhance the interest of credit institutions to issue loans secured by movable property.
According to the World Bank specialist on the use of movable property as collateral, Simon Thompson, the seminar will consider such mechanisms as the development of leasing in Azerbaijan, factoring, financing, supply chains, and so on.
The ASK President, Mammad Musayev noted that the majority of loans in Azerbaijan are issued under mortgage, which creates obstacles for small business that does not have realty, but is interested in getting credits. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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