Micro, small, and medium-sized businesses (SMEs) in Azerbaijan contribute about 15% of the added value in the country's economy, according to Nataly Mouravidze, Head of the European Bank for Reconstruction and Development (EBRD) Representative Office in Azerbaijan.

Speaking at the 1st National Financial Access Forum in Baku, Mouravidze highlighted the EBRD's expanding role in trade finance and SME lending in Azerbaijan. "In the coming years, together with our partners, we will pay special attention to increasing the competitiveness of SMEs, developing initiatives in the field of 'green finance,' supporting women entrepreneurs, and increasing youth employment opportunities," she stated.

Mouravidze emphasized that Azerbaijan’s SMEs employ 50% of the workforce but contribute less to GDP compared to OECD countries. Many of these enterprises are concentrated in trade, transport, and hospitality, but she sees innovation-driven companies as key to the next stage of economic development.

"Digitalization is a key factor in this transformation. Technologies open up new opportunities for small businesses: they increase efficiency, expand access to markets, and create conditions for competition with large companies," Mouravidze said, adding that the EBRD is committed to supporting digital transformation through financing and advisory services.

The EBRD, which has been active in Azerbaijan since 1991, has invested over €4 billion in more than 190 projects. "Our key priorities include promoting economic diversification, strengthening local businesses, increasing financial sector resilience, supporting the transition to a 'green economy,' and improving regional integration," she noted.

The bank remains focused on private sector development, particularly through partnerships with Azerbaijani financial institutions. "By investing in financial institutions, we are enabling them to expand lending to the private sector. We are already working with Bank Respublika, AccessBank, and the International Bank of Azerbaijan, and we look forward to the opportunity to engage more financial institutions," Mouravidze concluded.