Over 800 women’s entrepreneurship projects receive substantial support

Nazrin Abdul, AZERNEWS

Amid ongoing efforts to bolster women’s economic participation,
the Entrepreneurship Development Fund, under the Ministry of
Economy, has extended preferential loans exceeding 50 million
manats to over 800 investments related to the development of
women’s entrepreneurship projects during the first quarter of
2020-2024, Azernews reports.

This initiative has not only injected vitality into women-led
ventures but also facilitated the creation of more than 1,000 new
job opportunities.

Deputy Minister of Economy, Sahib Mammadov, highlighted these
significant strides during his address at the “Consultations with
interested parties on the 4th Voluntary National Report of
Azerbaijan, expansion of women’s economic rights and opportunities
and progress on the 5th SDG”.

Mammadov emphasized the pivotal role played by the Small and
Medium Business Development Agency (SMBDA) in fostering women’s
entrepreneurship, with a dedicated focus on increasing the
participation of women in small and medium enterprises.

“Informing women about entrepreneurship, innovations in this
field, support mechanisms, their educational events, training,
seminars, and round tables are regularly organized for the study of
ideas and proposals. Besides KOBIA, the Association for the
Development of Women’s Entrepreneurship is also represented in the
Public Council.”

He emphasized that the 4th SDG Dialogue serves as a crucial
platform for sharing insights and recommendations to accelerate
progress towards achieving the 5th Sustainable Development Goal
(SDG), particularly in enhancing women’s economic empowerment.

“In this regard, the 4th SDG Dialogue will act as an effective
platform to discuss and share knowledge on issues of a global
nature and specific to Azerbaijan, especially in terms of
increasing the economic empowerment of women, in achieving the 5th
SDG. By 2030, it will be aimed at proposing innovative solutions
and policy recommendations to accelerate the achievement of gender
equality and women’s economic empowerment in Azerbaijan.”

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