The next meeting of the working group on Financial Markets Development and Accessibility of Loans has been held

19-07-2024

The next meeting of the Working Group on Financial Markets Development and Accessibility of Loans of the Commission on Business Environment and International Rankings took place on July 18 at the administrative building of the Central Bank.

During the meeting, the Roadmap for 2024 was presented on the implementation of improvements and communication related with the "Financial services" indicator of the World Bank Group's "Business Ready" report. During the presentation it was emphasized that the Roadmap envisages the implementation of important measures such as improving the legal framework for green finance, strengthening the activities of credit bureaus and registries, promoting gender finance, as well as increasing the efficiency of obtaining financial services in practice. Participants of the meeting were also informed about the status of the implementation of the decisions taken at the previous meeting of the Working Group on April 30. Furthermore, a detailed information was presented regarding the progress made during the first half of the year within the framework of the 2024 Action Plan of the working group and discussions were held.

The meeting was attended by the representatives of the Presidential Administration of the Republic of Azerbaijan, Cabinet of Ministers, Central Bank, Ministry of Economy, Ministry of Digital Development and Transport, Ministry of Finance, Ministry of Environment and Natural Resources, State Oil Fund, Center for Analysis of Economic Reforms and Communication, Small and Medium Business Development Agency, Entrepreneurship Development Fund, Mortgage and Credit Guarantee Fund, Azerbaijan Credit Bureau as well as Azerbaijan Banks Association, Azerbaijan Microfinance Association, Azerbaijan Insurers Association, Azerbaijan Stock Market Participants Association and the working group members of the private sector participants.

It should be noted that the Central Bank chairs the Working Group on Financial Markets Development and Accessibility of Loans of the Commission on Business Environment and International Rankings.