This loan is issued for a period of 14 years with a four-year grace period. As a result of the project implementation, the working conditions of about 5,000 people will improve annually.
“This project will focus on the development of self-employment in Azerbaijan,” Teymur Ibrahimov, deputy head of the Baku Employment Department of the Azerbaijani Ministry of Labor and Social Protection of the Population, told reporters.
“During the implementation of this project, self-employment of low-income individuals in micro and small business will be ensured,” Ibrahimov added. “The project will be mainly aimed at young people and women who do not have stable jobs, but having skills in certain spheres of entrepreneurship.”
“This project has been successfully implemented in several countries, and we hope that its implementation in Azerbaijan will effectively complement the country's self-employment program,” one of the heads of the project Maddalena Honorati said.
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