World Bank: 51% of Azerbaijani business sees access to finance its main problem

World Bank: 51% of Azerbaijani business sees access to finance its main problem

World Bank’s Country Sector Coordinator Angela Prigozhina has delivered report “Access to Finance for Micro, Small, & Medium-Sized Enterprises in Azerbaijan. Demand-Side Assessment”. According to the assessment, 51% of the Azerbaijani sector of MSME considers access to finance its main problem, while tax rates make up only 13.8%, transport 5.8%, corruption only 2.4%. At that, 65% of the companies in this sector have savings or current accounts and only 13.5% of the companies received loans. So, 91.9% of micro-businesses have no loans, and 7.9% – 1 credit. 81.9% of small businesses have no loans, 14.8% -1 credit, and only 3.3% – 2 and more loans. 72.7% of medium-sized businesses have no loans, 20% – 1 loan, 7.3% at least two loans.

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