The EU is ready to provide financial support in the form of local currency to 20,000 small and medium-sized enterprises (SMEs) in Azerbaijan, according to the head of the EU Delegation to Azerbaijan Viktor Bojkov.

Bojkov gave the speech on the sidelines of the food festival in Azerbaijan’s Shaki district. According to him, this support is not provided for such areas as agriculture and manufacturing.

"We will support SMEs with know-how, consultations and loans, and are ready to provide them with loans at preferential rates, including in the form of grants," said Bojkov.

Currently, a food festival is underway in Azerbaijan’s Shaki districts, funded by the EU and implemented by the Center for Economic and Social Development, the ‘Uluchay Center for Socio-Economic Innovation, and the Center for Economic Development of Bulgaria’ within the ‘Promotion of agritourism, agribusiness and food production through consulting services, as well as the creation and development of new value chains’ project.

The project’s aim is to help promote domestic products and develop agritourism by improving access of local farmers to integrated and business-oriented services.