Baku:Azerbaijan is working on developing new credit guarantee and equity financing mechanisms to improve business access to financial resources.
According to Azeri-Press news agency, the initiative was a key topic during a meeting between First Deputy Minister of Finance Anar Karimov and World Bank Regional Director for the South Caucasus, Rolande Pryce. The discussion focused on the introduction of partial credit guarantee and equity financing components under the World Bank’s Finance for Jobs and Growth (FINGROW) project.
Efforts are underway to establish the necessary financing and legal frameworks to implement these mechanisms, alongside defining the project’s conceptual framework. Anar Karimov emphasized the potential for enhanced cooperation with the World Bank to expand access to finance and support the private sector.
Rolande Pryce confirmed that the World Bank is prepared to offer financial and expert support for initiatives designed to increase access to finance as part of the FINGROW project.