AMFA – Accelerating Development Sustainable Micro-Entrepreneurship In Rural Regions Of Azerbaijan: Two Project’s Events

Accelerating Development Sustainable Micro-Entrepreneurship In Rural Regions Of Azerbaijan” (ADSMIRRA)

is a project is co-founded by the European Union, organized by the Azerbaijan Micro-finance Association (AMFA) in collaboration with MFC and ASK, TuranBank OJSC, Islamic Development Bank (IsDB) and Finance for development LLC.

We would like to draw your attention to two events happening at the end of December within that project: Annual Meeting of Financial Educators of Azerbaijan and a Virtual Entrepreneurship Fair.

“The importance of financial literacy in crisis time”

Annual Meeting of Financial Educators of Azerbaijan

22 December 2020

Azerbaijan Micro-finance Association (AMFA) organizing Annual Meeting of Financial Educators of Azerbaijan within EU funded project “Accelerating development sustainable micro-entrepreneurship in rural regions of Azerbaijan” (ADSMIRRA). 

The Project overall objective is to support establishment and development of micro-businesses as to support rural population in income generation and job creation.  The project specific objective is to strengthen rural micro entrepreneur’s capacities to enable them to start or expand own businesses by building their skills, facilitating market opportunities and providing seed capital in the Ganja – Gazakh, Guba – Khachmaz, Sheki – Zagatala and Kur – Araz (Aran) Economic Zones.

During the project implementation the following main activities were undertaken:

  1. Conduction of “Financial Education” trainings to 500 persons
  2. Conduction of “Start and Improve Your Business” trainings to 159 persons
  3. Conduction of trainings on Cooperatives to 50 persons
  4. Providing mentoring services by 7 mentors to 85 entrepreneurs
  5. Provision of Seed capital to 102 entrepreneurs to start and expand own businesses
  6. Development of e-version of Yelow-pages book

One of the main project components to support project beneficiaries is training on Financial Education using “Plan Your Future” educational tool developed by Microfinance Centre Poland (MFC) and adopted to local context by AMFA, which helps to change negative attitudes towards long-term financial planning and saving, to acquire basic skills in the area of financial education thanks to a multitude of interactive exercises and games. Trainings were delivered by Financial Educators trained during previously EU funded project.

Annual Meeting of Financial Educators professional development meeting will bring financial educators and other professionals together to increase their knowledge establish new partnerships, strategies and networks with the ultimate goal to help individuals and families maximize their financial resources. The event deliberations will be on the following themes:

  • Review of results related to Financial Education component of the project
  • Benefits obtained and challenges, solutions and opportunities
  • International Experience of Financial Education programs to build financial resilience in crisis time

MFC Programme Manager Kinga Dąbrowska was a Guest Speaker on this event

Consult the Agenda : FinEd Annual Meeting

Virtual Entrepreneurship Fair 

 18 December 2020

Azerbaijan Micro-finance Association (AMFA), an MFC Member, is organizing Entrepreneurship Fair within EU funded project “Accelerating development sustainable micro-entrepreneurship in rural regions of Azerbaijan” (ADSMIRRA). 

The Project overall objective is to support establishment and development of micro-businesses as to support rural population in income generation and job creation.  The project specific objective is to strengthen rural micro entrepreneur’s capacities to enable them to start or expand own businesses by building their skills, facilitating market opportunities and providing seed capital in the Ganja – Gazakh, Guba – Khachmaz, Sheki – Zagatala and Kur – Araz (Aran) Economic Zones.

During the project implementation the following main activities were undertaken:

  1. Conduction of “Financial Education” trainings to 500 persons
  2. Conduction of “Start and Improve Your Business” trainings to 159 persons
  3. Conduction of trainings on Cooperatives to 50 persons
  4. Providing mentoring services by 7 mentors to 85 entrepreneurs
  5. Provision of Seed capital to 102 entrepreneurs to start and expand own businesses
  6. Development of e-version of Yellow-pages book

One of the main project components to support project beneficiaries is the Entrepreneurship Fair, which aims to attract various stakeholders of the value chain: produces, suppliers, consumers and other market players and will serve as Public Private Dialogue platform aiming to inform the government bodies on the support needed to extend to micro-businesses.

The Entrepreneurship Fair initially was planned to take place in Ganja city in June 2020, but due to quarantine regime caused by COVID – 19 pandemic was switched to online format, which will allow virtually exhibit products of project beneficiaries. Entrepreneurship Fair also will assist project beneficiaries in building business relationship with consumers, which is very important during COVID – 19 shock period, since businesses faced big slow-down and need the ways to speed –up sales.

The project envision inviting to Entrepreneur Fair successful project beneficiaries from the previous EU funded projects from  Nakhchivan, Ismayilli, Ganja, Guba, Shamkir and Zagatala as well as some other businesses present in those regions and selected by partners. During the Fair the following15 types of business activities will present their products such as bee-keeping, poultry-farming, animal husbandry, tailoring, canning, bakery, fruit drying, hand-crafting, carpet-weaving and others.

The Fair will be organized as continuation of Global Entrepreneurship Week (GEW) celebrations during November – the world’s largest celebration of the innovators and job creators who launch start-ups that bring ideas to life, drive economic growth and expand human welfare.

The Fair will have a positive and potentially life-changing impact on start-up entrepreneurs. In addition, the Fair will help to recognize and celebrate the contributions made to the development of communities by project beneficiaries, raise awareness of project activities which was done throughout the project life.

Its envisioned that about 150 participants, including project final beneficiaries, government officials and other strategic stakeholders in the marketplace will be joining this virtual Entrepreneurship Fair

MFC Deputy Director Katarzyna Pawlak was speaking at the opening of this event.

Consult the programme: Vırtual Entrepreneurship Fair Agenda

Read the official press release

Partners and sponsors of the project