The National Agency for Investment and Privatization (NAIP) of Belarus has joined the Declaration on Baku Climate Coalition for SMEs green transition, BelTA reported citing the NAIP.

"The document was officially initiated within the framework of Azerbaijan's chairmanship of COP29 (UN Climate Change Conference 2024). It was supported by a number of foreign SME support agencies and the Asian Development Bank," the agency said.

The participants to the Declaration emphasize the important role of SMEs in building a green economy. They express their commitment to developing various measures that help accelerate the green transition for SMEs.

The NAIP is committed to assisting investors with such projects. "We fully agree with the assessment of the role of SMEs in the transition to a green economy, which is postulated in the Declaration. We are well aware of the role of both raising awareness and creating levers of support, for example, the development of a green finance system. This is when banks and other organizations are ready to provide lending to green projects on special terms. Thanks to such support, it is easier for businesses to decide to implement projects that not only generate income, but also create the best environmental and social practices," emphasized Dmitry Krasovsky, Director of the National Agency for Investment and Privatization of Belarus.