By Ayya Lmahamad
The U.S. Agency for International Development (USAID) will participate in the reconstruction work carried out in Azerbaijan’s liberated territories.
The remark was made by the head of the USAID mission in Azerbaijan Jay Singh during a summit dedicated to supporting women’s entrepreneurship, held in Baku on June 30, local media sources reported.
During the summit, Singh stated that Azerbaijan has a huge potential in the development of women’s entrepreneurship. He noted that the USAID mission provides support and creates an environment for the active development of women’s entrepreneurship.
“Since 1991, great efforts and investments have been made by USAID to support and develop women entrepreneurship,” Singh said.
Moreover, during the summit, Azerbaijan’s Agency for Small and Medium-sized Business Development Board Chairman Orkhan Mammadov stated that the Agency and USAID plan to sign a memorandum of understanding on the development of micro, small and medium-sized businesses.
Mammadov emphasized that according to the memorandum, the parties will continue cooperation in such areas as conducting trainings for micro, small and medium enterprises, improving their organizational potential and business management quality. In addition, the parties will continue cooperation in studying SMBs’ access to financial resources, increasing the business potential of industrial associations through joint trainings and several other activities.
Platform for women
Likewise, during the summit, USAID announced the creation of Azerbaijan’s first Women’s National Business Agenda platform.
The platform will provide innovative policy recommendations to increase women’s participation in the business sector.
Additionally, the event generated interest in activities to contribute to the economic reforms carried out by Azerbaijan and create a unified coalition to strengthen women’s entrepreneurship.
“Through such initiatives, we are creating an even more favorable business environment, especially for women, and reducing administrative barriers that stifle competition. By working together to strengthen women-led organizations and companies, we see women entrepreneurship as a key economic force in the national economy,” Singh said.
The USAID Private Sector Development Project (2019-2024) aims to increase the sustainability of Azerbaijan’s economy, create an even more favorable business environment for entrepreneurs, improve the competitiveness of the private sector and the capacity of business service providers, and remove barriers to the development of micro, small and medium enterprises, and involve women in economic activity.