At the next meeting of the Financial Services Working Group of AHK Azerbaijan held on March 13, 2024, at the Head Office of AccessBank CJSC, the areas of activity of the Entrepreneurship Development Fund and preferential financial mechanisms were discussed, as well as the banking services and products available for AHK Azerbaijan members within the framework of cooperation with EDF. At the meeting participated Tobias Baumann, Executive Board Member of AHK Azerbaijan, Ilkin Guliyev, Member of the Board of AccessBank CJSC and Chairman of the Financial Services Working Group, as the moderator of the meeting. Guest speakers included Osman Khaliyev, Chairman of the Management Board of the Entrepreneurship Development Fund, and Javid Aliyev, Director of small, medium, and corporate clients at AccessBank CJSC.

Declaring the meeting open, Tobias Baumann welcomed the participants and informed them about the progress of the meeting. Later, the moderator of the meeting, Mr Guliyev, greeted the participants and gave the audience extensive information about the bank's activities. Then he gave the floor to Mr Khaliyev.

In his speech, Mr Khaliyev provided information about the activities of EDF and support mechanisms, such as preferential loans, equipment loans, guarantees and subsidy mechanisms. He stated that the goal is to provide financial support to business entities in Azerbaijan, as well as to achieve the development of cooperation between the state and entrepreneurs and create an environment of mutual trust. The Chairman of the Management Board noted that the Fund supports entrepreneurs’ projects with preferential loans, as well as guarantees and subsidies. Osman Khaliyev emphasised that up to 90% of loans obtained from banks and non-bank credit organisations by entrepreneurs who want to implement investment projects in these areas are given state guarantees, including 10% of those loans being subsidised.

Later, Mr. Aliyev began his speech on the banking services and products available for AHK Azerbaijan members within the framework of cooperation with EDF. Mr Aliyev informed the clients about opening and maintaining accounts, tariffs, e-commerce, offering overdraft products to clients, and summer internship programs.

At the meeting, discussions were held in the direction of creating new financial instruments, and the questions of the members of the working group were answered.