By Azernews

By Ayya Lmahamad

Azerbaijan and the World Bank have discussed joint initiatives to facilitate access to finance for SMBs, Azernews reports.

The discussion took place during the meeting between Azerbaijan's Small and Medium Business Development Agency (SMBDA) Board Chairman Orkhan Mammadov with the World Bank's Country Manager in Azerbaijan Sarah Michael.

During the meeting, the parties also discussed the implementation of joint projects in the mentioned direction.

SMBDA continues to hold meetings with local and foreign businessmen to expand ties and implement new business initiatives.

Azerbaijan joined the WB in 1992. Since then, the bank has financed over 50 projects with total commitments of $4.4 billion. It started economic cooperation in Azerbaijan to help increase the country’s institutional capacity and build efficient oil reserves management. The WB has always supported the large-scale reforms carried out in Azerbaijan.