Baku. 17 December. REPORT.AZ/ The European Bank for Reconstruction and Development (EBRD) has started the first session of a four-day workshop with funding from EU and Sweden, for women entrepreneurs who want to develop their entrepreneurial skills and understand key financial concepts to help their businesses grow. Seventeen women entrepreneurs representing various sectors of the economy attended the first session of the workshop, Report informs.
“We firmly believe that women’s entrepreneurship plays an important role in creating jobs and driving economic growth. That’s why, in ourcountries of operation, we help womenentrepreneurs succeed and be more engaged in business” says Jeff Ferry, Associate Director, EBRD Advice for Small Businesses, South Caucasus and Russian Federation.
“Our workshop series is based on international best practices and the curriculum is adapted and delivered in accordance with the local needs. It promotes and support women’s entrepreneurship in Azerbaijan and more broadly women’s participation in business.”
The workshop is a part of the EBRD’s Women in Business programme,funded by European Union, Sweden and the Early Transition Countries Fund. Over €50 million will be made available from the EBRD for credit lines channelled through partner financial institutions for on-lending to women-led SMEs. This is combined with €9 million in donor funding, enabling risk mitigation funds and technical assistance to partner banks, as well as business advice, training and mentoring for women entrepreneurs.
Since starting work in Azerbaijan in 1993, the EBRD has helped over 700 enterprises access consulting know-how to help them develop and grow. The European Union has provided €3.7 million to support this work since 2003 and Swedish International Development Agency contributes 47 million Swedish Kronorto the development of women entrepreneurship in Eastern Partnership Countries.