EU to allocate grant to Azerbaijan's agency for SME development

  22 November 2018    Read: 1093
EU to allocate grant to Azerbaijan

The EU will allocate a grant of one million euros to the Agency for Development of Small and Medium-Sized Enterprises (SMEs) of Azerbaijan, Head of the EU Delegation to Azerbaijan Kestutis Jankauskas said at the 9th Azerbaijan Microfinance Conference in Baku.

He said the EU supported the creation of the SME agency, as well as the adoption of the SME law in the country.

Jankauskas noted that the priorities for the EU financing in Azerbaijan comprise education, including vocational education, as well as the development of rural areas and the agriculture sector.

He said the EU and the Azerbaijan Microfinance Association (AMFA) are implementing a $10 million joint initiative to support rural areas.

In the coming months, AMFA will unveil the areas where grants are to be allocated in four main regions of Azerbaijan, he noted.

He added that from 2020, work will begin to develop the Lankaran economic zone.

The main goal is the development of horticulture farms and increasing competitiveness, Jankauskas said.

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