Azerbaijani companies implementing the national standard on environmental, social, and governance (ESG) may receive loans at lower interest rates, Natig Hasanov, First Deputy Chairman of the Board of the Small and Medium Business Development Agency (KOBIA) under the Azerbaijani Economy Ministry, said in response to Report's question.
"If companies operating in the same profile apply to banks for credit, we expect that companies implementing the National ESG standard will receive loans at lower interest rates. This is a support mechanism for the financial sustainability of companies implementing the standard. KOBIA may consider creating a support mechanism for companies that will implement this standard. However, our most important activity direction is to deliver information about this standard to the general public and business entities. Of course, we will pay special attention to awareness-raising, which can be considered as indirect support," Hasanov noted.