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BAKU, Azerbaijan, May 19
By Zeyni Jafarov – Trend:
The Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan issued preferential loans worth 18.6 million manat ($10.9 million) through authorized credit organizations in the first 4 months of 2021, Trend reports citing the ministry.
“Financing of investment projects covered 217 entrepreneurs. As a result of the issuance of these loans, it became possible to create up to 600 new jobs,” the ministry stated.
“Some 43 percent of the loans issued were directed to the agricultural sector, 57 percent – to the production and processing of various industrial products. At the same time, 73 percent of concessional loans were issued to entrepreneurs operating in the districts of the country, and 27 percent – in the settlements of Baku,” the statement reads.
Earlier, Azerbaijan’s Minister of Economy Mikayil Jabbarov said that the strategic goals of the Entrepreneurship Development Fund for 2021-2023 are to expand the access of entrepreneurs to financial resources, support the creation and development of new enterprises based on innovative technologies, and ensure the sustainable development of the Fund.
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