Azerbaijan, ITFC discuss technical support for local SMBs

By Azernews

By Ayya Lmahamad

Azerbaijan and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank, have discussed issues of technical support for local SMBs, Azernews reports.

The discussion took place during a meeting between Small and Medium Business Development Agency Board Chairman Orkhan Mammadov with ITFC's representatives, who are on a visit to Azerbaijan.

During the meeting, the parties also exchanged views on such issues as trade facilitation and access to financing for SMBs.

The Islamic Trade Finance Corporation was established by the Islamic Development Bank (IsDB) in 2006. Azerbaijan joined the corporation as a member of IsDB.

Azerbaijan joined the Islamic Development Bank on 4 July 1992. Since Azerbaijan’s membership in 1992, IsDB has been approving economic and social infrastructure projects, mostly in energy, water and sanitation, and urban services, and improving access to finance.