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A Tripartite Letter of Intent signed among ABAD public legal entity, the International Bank of Azerbaijan and the Agrarian Credit and Development Agency (AKIA). The protocol envisages cooperation to support the development of entrepreneurship. In this context, tripartite assistance will be provided to businesses to implement self-investment projects.
According to the document, trilateral support will be provided with the following mechanism: ABAD will assist entrepreneurs with the packaging and sales of agricultural products. Meanwhile, will create conditions allowing entrepreneurs to gain valuable insights and acquire new skills in production and marketing of goods.
Following the mission, the International Bank of Azerbaijan will provide preferential loans to entrepreneur customers which in turn will ensure the expeditious implementation of the process. The bank will also provide opportunities for entrepreneurs to get access to various privileged services (logistics, transport, certification, etc.) through its "Entrepreneurs Club".
The Agrarian Credit and Development Agency will provide partnership support in the field of finance under mutual agreements. Moreover, the agency will assist entrepreneurs with expert support and exchange of experience in their areas of activity.
Giving a speech in the course of the ceremony, Rufat Elchiyev, director of the ABAD public legal entity, said entrepreneurs and agricultural producers can benefit from the programs of local and international organizations through the created opportunities: “They will receive expert support and a benign environment will be created for the exchange of experience.”
Seymour Movlayev, Chairman of the Agrarian Credit and Development Agency, noted that the organization will give assistance to develop agricultural micro, small and medium enterprises by taking relevant measurements under the signed document.
Nargizkhanum Bylenderly, General Director for Corporate Affairs of the International Bank of Azerbaijan, said that the development of the agrarian sector is given a special place in the Bank's strategy: The certain scope of small and medium enterprises receiving our support, operate in the field of the agrarian sector. Within the framework of this letter of intent, we incorporate our opportunities with our stakeholders.
Furthermore, the implementation of CSR projects in a trilateral base also envisaged in the period ahead.