A SME Development Fund is being established in Azerbaijan to increase access to financial resources for small and medium-sized businesses.

APA-Economics reports that this was stated by the Chairman of the Board of KOBIA Orkhan Mammadov, speaking at the conference of the Black Sea Trade and Development Bank (BSTDB) on "The role of supporting the diversified and innovative Azerbaijani economy in a changing world."

According to him, the main feature of the Fund will be its ability to offer grants and technical assistance.

"Also, the minimum project cost requirements for investment will be lower than in the market. The organizational form of the SME Development Fund will be OJSC, which in turn will attract local and foreign investors, as well as the private sector, along with public funds." , - said Orkhan Mammadov.