Baku. Nijat Mustafayev – APA-Economics. The Asian Development Bank (ADB) offers technical assistance for development of the microfinance sector of Azerbaijan.
The Bank informs that the amount of a grant for financing the assistance will total $300,000. Following this project the ADB expects improved access to a wider range of financial services for low-income people and micro-enterprises outside of Baku.
Assistance is expected to help develop new financial policy and strategy, including the regulatory framework and practical support to implement the strategy. Consultations are also expected on new products, such as micro-insurance, micro-leasing, micro-pension security, savings products. The Bank considers that providers of these services could be non-bank credit institutions.
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