The Central Bank of the Republic of Azerbaijan convened the working group on financial market development and access to credit to review delivery against its 2024 action plan and the 2024 roadmap aligned to the World Bank Group’s Business Ready report “Financial services” indicator. The meeting also discussed implementation progress on roadmap measures and exchanged views on the results of the related Business Ready survey. Updates covered measures spanning SME financing, market capitalisation, banking and insurance sector issues, the share of non-performing loans in the credit portfolio, access to finance for startups, domestic credit to the private sector, and lending by microfinance institutions. The group also reviewed progress on actions relating to lending, electronic payments, green finance, credit bureaus and collateral registries, alongside the implementation status of decisions taken at the 18 July 2024 meeting. An initial draft 2025 action plan and a preliminary 2025 roadmap for improvements and communications around the “Financial services” indicator were presented, with the draft described as being developed based on in-depth diagnostics and benchmarking.

Original source View in tracker