EU to allocate EUR 1M to Agency for Development of Small and Medium-Sized Enterprises

Baku. 22 November. REPORT.AZ/ The European Union will allocate EUR 1 million to the Agency for Development of Small and Medium-Sized Enterprises (SMEs), Head of the European Union Delegation to the Republic of Azerbaijan Mr. Kestutis Jankauskas said at the 9th Azerbaijan Microfinance Conference, Report informs.

"The priority areas on funds allocated by EU for Azerbaijan cover development of education, including vocational training in rural areas and agricultures. We have supported establishment of the Agency, as well as adoption of law in this field. In addition, we’ll allocate EUR 1 million to the Agency," he said.

Moreover, he noted that jointly with Azerbaijan Microfinance Association (AMFA), EU has a $10 million-initiative on support to rural areas: "In the coming months, AMFA will announce areas, to which grants will be directed for development of four main regions. We’ll start development of Lankaran Economic Zone in 2020. The main point in here is to develop fruit and vegetable growing, increase competitiveness."