BAKU, Azerbaijan, January 17. Entrepreneurshıp Development Fund under the Ministry of Economy of Azerbaijan has provided soft loans worth 193.8 million manat ($113.9 million) to finance 3,276 investment projects in 2023, said the fund's Chairman of the Management Board, Osman Khaliyev, Trend reports.
Khaliyev made his statement during the press conference dedicated to the results of activity for 2023.
According to him, the total cost of investment projects amounts to 459.9 million manat or $270.5 million.
"More than 3,000 new workplaces have been created through these loans. A total of 46.4 percent of the issued loans were directed to agricultural production, 43 percent to the production and processing of industrial products, 5.5 percent to the service sector, and 4.5 percent to tourism development projects. With 72 percent of soft loans directed to the regions and 28 percent to the city of Baku and the Absheron economic region," he said.
Khaliyev noted that the average size of the loan in 2023 amounted to 59,200 thousand manat or $34,823.
In 2022, entrepreneurs in Azerbaijan received loans worth 145.9 million manat ($85.8 million) through the Entrepreneurshıp Development Fund of Azerbaijan.
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