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Azerbaijan reveals easy-term loan amount given out to entrepreneurs

Finance Materials 21 September 2022 15:38
Baku, Azerbaijan Trend News Agency
Azerbaijan reveals easy-term loan amount given out to entrepreneurs

The Azerbaijan Entrepreneurship Development Fund under the Ministry of Economy has issued 72.1 million manat ($42.4 million) of east-term loans to entrepreneurs since the beginning of 2022, Trend reports citing the country's Economy Minister Mikayil Jabbarov's Twitter post.

According to him, the funds will be allocated for the implementation of 1,732 projects.

"These funds are expected to contribute to the creation of 1,690 new jobs. A total of 71.4 percent of the preferential loans fall on the agricultural sector, whilst 28.6 percent – on manufacturing and processing of various industrial products and other areas. Thereat, 88.2 percent of the funds fall on the country's regions, whereas 11.8 percent – on Baku," the minister tweeted.

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