Talks about creation of alternative sources of crediting underway

08.12.2021,12:51


December 8, Fineko/abc.az. The 5th International Banking Forum is taking place in Baku.

ABC.AZ informs that chairman of board of the Agency for the Development of Small & Medium-sized Businesses (KOBIA) Orkhan Mammadov, speaking at the forum, noted that negotiations are underway with the Islamic Development Bank about the creation of alternative sources of lending to small and medium-sized businesses in Azerbaijan.

"To date, half of the appeals we’ve received have been funded. I would also like to note that our entrepreneurs face problems when obtaining bank loans. Our agency is considering these processes and, in accordance with international experience, is negotiating with the IDB to create alternative sources of lending to small and medium-sized businesses in Azerbaijan. We’re also negotiating with the country's leading banks on this issue,” Mammadov said.