IFC launches seminars for small and medium enterprises in Azerbaijan

IFC, a member of the World Bank  Group, and the Azerbaijan Entrepreneurs Confederation (ASK) held seminar "Successful strategy and business models under new economic conditions" in Azerbaijan on 26 April, the corporation reported.

It is a regional interactive training program for small business owners to help them reduce costs, manage risks, and accelerate post-crisis recovery.

The seminar presented several proven methods of development and improvement of business performance. The seminar also offered the experience of Russian, Ukrainian, Romanian and other companies.

The seminar was developed by IFC’s Corporate Sector Crisis Response Project, with the support of Alexander V. Mertens - expert in corporate finance.

"The seminar was very useful and practical," said Emin Suleymanov, deputy head of external relations at ASK, after a one-day workshop in Baku. "I’ve learnt a lot about reducing costs and increasing efficiency during crisis. I am now equipped with tips on how businesses such as mine have survived the crisis, and I will use this theory in my daily work to make my company stronger."

IFC plans to offer more than 3 seminars to small business owners in Azerbaijan to improve risk-management practices and help them cope in the challenging crisis environment.

"I was delighted to see so many SMEs participate in the seminar held in Baku," said Petro Matiaszek ECA Program Manager IFC Corporate Sector Crisis Management & Recovery Program. "SMEs present one of the best opportunities for employment, economic growth, and diversification in Azerbaijan, and IFC will continue to support them, particularly those outside of Baku, through advisory services and investments."

IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries-including by helping companies, including small and medium-sized businesses, in post-crises recovery.

IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $18 billion in fiscal 2010, helping channel capital into developing countries during the financial crisis.


/Trend/