AEC makes appeal to Presidential Administration

Baku. 6 October/ REPORT.AZ/ The National Confederation of Entrepreneurs (Employers') Organisations of Azerbaijan (AEC) appealed to the Presidential Administration to embrace the non-bank credit organizations' (NBCOs) activity by the "Credit Guarantee Fund" OJSC.

Report informsç President of the National Confederation of Entrepreneurs' (Employers') Organizations of Azerbaijan Mammad Musayev said at today's Fifth Investors "Fair titled “The Future of Microfinance: Challenges and Potential” in Baku.

“Initially, issue of giving guarantee by the Fund to credits provided by NBCOs did not exist. In this regard, we have appealed to the Presidential Assistant for Economic Issues, Natig Amirov. I hope this issue will find its solution soon.”

“A great deal of attention is currently being paid to non-oil sector in Azerbaijan, development of small and medium business and revival of such areas like cotton industry, tobacco production, walnut growing. This attention creates opportunity for Azerbaijani microfinance institutions and will lead to their development,” said head of AEC.