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"Women's Power in Business" project completed 02.05.23

Three women entrepreneurs were awarded financial support in the amount of 10,000 manats to develop their business projects.

The "Women's Power in Business" project, which was implemented in the collaboration with the Small and Medium Business Development Agency (KOBİA) and Rabitabank OJSC and in partnership with the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, Women`s Entrepreneurship Development Association in Azerbaijan and "Marsol Group" to encourage and support women in entrepreneurship, has been completed.

The event to highlight the achievements of the project was attended by representatives of relevant institutions and women entrepreneurs involved in the project.

Speaking at the event, Mr. Orkhan Mammadov, the Chairman of the Board of KOBİA, pointed out to the fact that women play an important role in the development of entrepreneurship and are actively involved in business activities. It was noted that given the development priorities of the economy and national peculiarities, promoting the development of women's entrepreneurship and taking necessary measures in this field are part of the activities of the Agency. KOBİA is carrying out the required work on promoting the development of women's entrepreneurship, further boosting the number of women among small and medium entrepreneurs, and shaping appropriate support tools to this end. The project “Women`s Power in Business" is one of such support measures. The project will help women entrepreneurs engaged in business activities in Baku and the regions to gain experience and boost their income and promote women`s entrepreneurship.

Mr. Aydin Huseynov, Chairman of the Board of Rabitabank OJSC also spoke at the event:

"Rabitabank implements such projects to expand women's employment opportunities and increase their role in the development of the private sector. The project aims to provide support for expanding the role of women entrepreneurs in the country's economy, enhance their business performance, raise awareness and bring about conditions for establishing relations towards expanding access to concessional financial resources. I am confident that the stakeholders of the project will set an example for other women by demonstrating that there are ample opportunities to succeed in business, and will drive them to improve their leadership skills."

Mr. Vugar Zeynalov, the vice-president of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, Ms. Sakina Babayeva, the chairman of the for the Women's Entrepreneurship Development Association in Azerbaijan, and Mr. Tural Mustafayev, the director of Marsol Group, spoke at the event and shared their opinions on the importance of the project and their support to women entrepreneurs as part of the project.

In the presentation of the report on the project, it was noted that 134 women entrepreneurs applied to be involved in the project, which was launched in November 2022. Among them, 23 participants who met the relevant criteria and operate in the fields of industry, agriculture, trade and services were selected. During the project, women entrepreneurs were involved in some 10 different trainings to enhance their business knowledge, they were also provided with consulting services and mentor support. Meetings of women entrepreneurs with representatives of state agencies and a practice visit to a tea plantation located in Lankaran were also organized.

Subsequently, the names of 3 women entrepreneurs selected with the decision of the Jury were announced and awarded. 5000 manats were given to the winner of the 1st place, 3000 manats to the 2nd place and 2000 manats to the 3rd place for the development of the presented project.

In addition, certificates were awarded to women entrepreneurs that were engaged in the project, certificates of acknowledgement and gifts were given to mentors who supported the women entrepreneurs during the project.

As part of the event, a small exhibition of the products of women entrepreneurs was also held.