The agreement on the establishment of the Turkic Investment Fund (TIF) also took into account the proposals of Azerbaijan’s Small and Medium Business Development Agency (KOBIA) regarding SMEs financing, stated Orkhan Mammadov, Chairman of the Board of the KOBIA, Report informs.
Mammadov made this insight at the event titled “Turkic Investment Fund and Union of Turkic Chambers of Commerce and Industry (TCCI): Information Meeting and B2B for Business Leaders” held in Baku.
According to him, financing SME-related projects can contribute to the TIF’s objectives while supporting their development: “The fund aims to finance SME-related projects. In this regard, a joint SME financing program could be considered to facilitate local entrepreneurs’ access to the TIF’s investments.”
Mammadov stated that since TIF also supports the expansion of transportation and logistics chain, support could be provided for the creation of an SME Export Accelerator to promote SMEs’ integration into the regional supply chain. He believes that in the initial stage, this platform could be planned to operate in digital format.
Touching upon green financing, the KOBIA chairman emphasized that within the framework of the Baku Climate Coalition for SMEs’ Green Transition announced during COP29, there are opportunities for cooperation in creating mechanisms for green financing of SMEs and supporting climate-oriented projects.
