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Banks to support unemployed - contract signed

11.03.2020,13:01


March 11, Fineko/abc.az. Azerbaijani banks will be involved in self-employment measures.

ABC.AZ reports that the Ministry of Labor & Social Protection, the Central Bank and the Association of Banks of Azerbaijan signed the relevant memorandum.

The main goal is to support the employment of vulnerable groups of the population, stimulate the development of micro, small and medium-sized businesses. The document says about the provision of materials, equipment and other property in natural form for free use of the unemployed, including the disabled, low-income families, as well as IDPs for 2 years to ensure employment in various sectors of the national economy.

The country's banks will join this process on the voluntary basis and will finance the program free of charge.

According to the document, the participants of the program (i.e. unemployed) will also be provided with access to various bank financial instruments.

By Elmir Murad