12:48 - 24.06.2025

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June 24, Fineko/abc.az. The issue of financial accessibility for businesses remains a global challenge.

ABC.AZ reports that the chairman of board of the Agency for the Development of Small & Medium-sized Businesses (KOBIA), Orkhan Mammadov, made the relevant statement at the next Exhibition of Finance & Technology (Fintex Summit) in Baku.

Mammadov added that according to the documents of the SME (Small and Medium-Sized Business) Financing Forum held by the International Finance Corporation in April 2025, the unmet financial needs of SMEs in the world reached $5.7 trillion: "At the same time, according to the World Bank report, eliminating the financial gap of SMEs can lead to an increase in overall productivity in economies. with an average income of 86%. These indicators bring up-to-date the issues of using Fintex tools in the framework of SMEs' access to sources of financing. In this context, expanding access to financial services is one of the main conditions for sustainable development, especially for SMEs operating in the regions."

He noted that such an important platform as Fintex Summit plays a significant role in discussing global trends in financial technology, promoting innovative solutions and expanding opportunities for mutual cooperation.