SMB

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A memorandum on the green transition of SMBs signed between KOBİA and the Asian Development Bank 06.12.24

The document outlines joint cooperation to support the implementation of green initiatives by SMBs, enhance their capabilities in this field, and improve their access to green financing.

The Small and Medium Business Development Agency (KOBİA) and the Asian Development Bank (ADB) have signed a Memorandum of Understanding on the green transition and green development of SMBs in Azerbaijan. The document was signed by Orhan Mammadov, Chairman of the Management Board of KOBİA, and Sunniya Durrani-Jamal, Head of ADB's Resident Mission in Azerbaijan. The Memorandum envisages ADB's support for the "Baku Climate Coalition Declaration for the Green Transition of SMBs" proposed by KOBİA, the issues highlighted in the declaration and the joint implementation of activities aimed at facilitating the green transition of SMBs. For this purpose, the memorandum emphasizes facilitating green initiatives by SMBs, enhancing their capabilities in this field, providing joint support for access to green financing, and cooperating on measures to analyze the regulatory framework supporting the green transition of SMBs.

During the meeting conducted between the parties, the green transition of SMBs, opportunities for collaboration between KOBİA and ADB in the SMB sector, as well as issues arising from the memorandum were discussed.