Most of Loans in Azerbaijan Issued as Mortgage

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-