Azerbaijan is developing new credit guarantee and equity financing mechanisms to expand businesses' access to financial resources, APA-Economics reports.
The issue was discussed during a meeting between First Deputy Minister of Finance Anar Karimov and a delegation led by World Bank Regional Director for the South Caucasus Rolande Pryce.
It was noted that the introduction of partial credit guarantee and equity financing components is envisaged within the World Bank's Finance for Jobs and Growth (FINGROW) project.
Work is currently underway to establish the relevant 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 to deepen cooperation with the World Bank in expanding access to finance and financing the private sector.
World Bank Regional Director for the South Caucasus Rolande Pryce said that the Bank is ready to provide financial and expert support for initiatives aimed at expanding access to finance within the FINGROW project.
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