New credit guarantee and capital financing mechanisms are being prepared to expand access of business entities to financial resources in Azerbaijan.
elchi reports that this issue was discussed during a meeting between the First Deputy Minister of Finance Anar Karimov and a delegation led by the World Bank’s Regional Director for the South Caucasus, Roland Price.
It was stated that the partial credit guarantee and capital financing components are planned to be implemented within the framework of the World Bank’s “Financial Access for Jobs and Economic Growth” – FINGROW project.
Currently, work is underway to form the appropriate financing and legal mechanisms for the implementation of these mechanisms, as well as to define the conceptual framework of the project.
Anar Karimov noted that there are broad opportunities for deepening cooperation with the World Bank in the field of expanding financial accessibility and financing the private sector.
Roland Price, the World Bank’s Regional Director for the South Caucasus, stated that the Bank is ready to provide financial and expert support to initiatives aimed at expanding financial accessibility within the FINGROW project.