Azerbaijan, World Bank discuss joint initiatives to develop financial sector

The Central Bank of Azerbaijan's (CBA) leadership met with representatives of the World Bank's Finance for Growth (FINGROW) Mission during their visit to Azerbaijan, Report informs, referring to the CBA.

The discussions focused on strengthening credit guarantee mechanisms, advancing capital financing, and supporting prudent financial-sector regulation.

The sides also discussed how the proposed credit guarantee mechanism could improve businesses' access to finance.

The meeting included an exchange of views on potential joint initiatives to support the development of the Azerbaijani financial sector and private-sector growth.

The World Bank's FINGROW program is a regional initiative focused on expanding access to finance and supporting job creation across Europe and Central Asia through digital payments, lending, risk mitigation and capital financing.