Baku, Azerbaijan, May 2. The Central Bank of
Azerbaijan (CBA) has announced the “Strategic Framework for the
Microfinance Model” document, a source in the CBA told Trend.
The document defines the initiatives intended to increase the
role of the microfinance sector in financing self-employed
individuals and micro, small and medium-sized businesses, as well
as supporting economic growth as a whole.
The strategic framework document covers priorities for
strengthening the legal and regulatory framework for microfinance,
introducing the concept of microcredit into legislation,
institutional development of non-bank credit organizations, and
diversification of financing sources, as well as strengthening
risk-sharing mechanisms.
Moreover, the document also reflects priorities for improving
the identification system for self-employed people and family
farms.
Stay up-to-date with more news on Trend News
Agency’s WhatsApp channel