EBRD: Micro, small and medium enterprises provide 15% of added value in Azerbaijan's economy

Micro, small and medium-sized businesses (SMEs) in Azerbaijan create about 15% of the added value in the country's economy, the head of the European Bank for Reconstruction and Development (EBRD) office in Azerbaijan, Nataly Mouravidze, said at the first National Financial Accessibility Forum in Baku, Report informs.

"The EBRD is expanding its activities in trade finance and lending to micro, small and medium-sized enterprises in Azerbaijan. In the coming years, together with our partners, we will focus on increasing the competitiveness of SMEs, developing initiatives in the field of 'green financing', supporting women entrepreneurs, and increasing employment opportunities for young people. Azerbaijani micro-, small and medium-sized enterprises have significant but not yet fully realized potential. Today they provide about 15% of the added value in the economy and create 50% of jobs, which is significantly lower than the OECD countries' average," noted Mouravidze.

She emphasized that many enterprises in this segment are concentrated in low-value-added areas such as trade, transport, hotel, and restaurant business. However, innovation-oriented companies, in her opinion, can become the locomotives of the next stage of Azerbaijan's economic growth.

"Digitalization is a key factor in this transformation. Technologies open new opportunities for small businesses: they increase efficiency, expand access to markets, and create conditions for competition with large companies. Automation, e-commerce, Internet of Things, micropayments – all this makes business more scalable and competitive. SMEs benefit from flexibility and quick adaptation to changes. We are proud to provide not only financing but also advisory support to companies seeking digital transformation," she added.

The head of the EBRD office also confirmed the bank's commitment to strengthening Azerbaijan's financial sector.

"Supporting local financial institutions for us means creating a solid foundation for business growth in the country," Mouravidze added.