BAKU, Azerbaijan, January 17. In 2023, payment of subsidies on state-guaranteed loans to entrepreneurs affected by the pandemic was continued, and, as of December 31, 2023, a total of 52 million manat ($30.6 million) was paid within the support program, said the fund's Chairman of the Management Board of Entrepreneurship Development Fund Osman Khaliyev, Trend reports.
Khaliyev made his statement during the press conference dedicated to the results of activity for 2023.
"In addition, subsidies of up to 10 percentage points of the annual loan interest rate continued to be provided to pandemic-affected entrepreneurs with credit outstanding as of March 10, 2020. As of December 31, interest subsidies worth 73.3 million manat or $43.1 million have been paid on 5071 applications with a loan balance of 893.4 million manat or $525.5 million within the framework of the program," he noted.
As of January 1, 2023, a total of 6,338 applications have been received under the mechanism of subsidizing interest on the existing loan portfolio, of which 5,052 applications have been approved for subsidies. The approved amount for subsidizing interest on existing loans to entrepreneurs is 71.9 million manat or $42.3 million.