World Bank Management: Azerbaijan Should Pay Attention to Medium and Small Businesses

Capital markets have upgraded in Azerbaijan at a high level, the Manager of the World Bank for Financial Sector Rolf Bernd said at the specialized event dedicated to the results of the WB project today.

According to him, such a level of modernization can hardly be seen anywhere else, however, one of the main functions of the global structure is to improve the conditions and welfare of small and medium-sized enterprises, so the local government should continue its work to ensure the efficient use of capital markets, including in the course of privatization.

Recall, the World Bank in March 2011, allocated the Government of Azerbaijan a loan of $ 12 million for the project "Modernization of capital markets' at a total cost of $ 15.8 million. In addition, for this purpose the State Secretariat for Economic Affairs of Switzerland (SECO) has provided a grant of $ 1.6 million plus $ 2.2 million from the local Government with a goal of strengthening the financial sector and capital market instruments, and to support the non-oil sector in the financing through the capital markets. --17D-