Bayramov: More concessional loans needed for women's economic empowerment

In order to strengthen women's economic empowerment in Azerbaijan, the Azerbaijan Business Development Fund should provide more concessional loans, Vugar Bayramov, Member of Milli Majlis (Parliament) of Azerbaijan, stated during today's plenary session, Report informs.

According to Bayramov, women's economic empowerment requires greater access to financial resources: "It would be more appropriate if concessional loans offered by the Azerbaijan Business Development Fund prioritized women. Currently, the share of loans taken by women entrepreneurs is in single digits. Defining this as a priority direction could significantly increase women's access to concessional financing."

The MP also noted the wage gap between men and women, suggesting measures to address disparities in pension capital: "When calculating age-based pensions, it would be advisable to apply special coefficients to women's pension capital, as is done in some developing countries. This mechanism could help increase women's pension amounts until the wage gap between men and women is eliminated."