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

24-01-2025

January 24, 2025: The next meeting of the Working Group on Financial Markets Development and Accessibility of Loans of the Commission on Business Environment and International Rankings, led by the Central Bank, took place on January 24, 2025 at the administrative building of the Central Bank.

At the meeting, detailed information waspresented and discussed on the work done during the past year within the framework of the 2024 Action Plan of the Working Group and the approved 2024 Roadmap for the "Financial Services" indicator under the World Bank Group's "Business Ready" report.

The meeting participants were informed about the Action Plan on financing SMEs, market capitalization, banking and insurance sectors, the weight of non-performing loans in the loan portfolio, access to finance for startups, internal credit investments in the private sector, loans provided by microfinance institutions, and other relevant measures.

At the same time, at the event it was discussed the implementation status of important measures in the Roadmap, such as lending, electronic payments, green finance, credit bureaus and the operation of encumbrance registries. Information was also provided on the implementation status of the decisions taken at the working group meeting on July 18, 2024. An exchange of views was held on the results of the survey on the "Financial Services" indicator of the "Business Ready" report.

The meeting presented the preliminary draft of the 2025 Action Plan of the working group and the Roadmap for 2025 on the implementation of improvements and communication in the relevant field related to the "Financial Services" indicator under the World Bank Group's "Business Ready" report. It was noted that the project is being prepared based on benchmarks based on in-depth diagnostics of the relevant field.

At the meeting, it was attended by the representatives of the Presidential Administration of the Republic of Azerbaijan, Central Bank, Ministry of Economy, Ministry of Digital Development and Transport, Ministry of Finance, Ministry of Justice, Center for Analysis of Economic Reforms and Communication, Small and Medium Business Development Agency, Business Development Fund, Mortgage and Credit Guarantee Fund, Azerbaijan Credit Bureau as well as Azerbaijan Banks Association, Azerbaijan Microfinance Association, Azerbaijan Insurers Association and the working group members of the private sector participants.