BAKU, Azerbaijan, January 17. The electronic credit guarantee system is expected to become available to entrepreneurs in Azerbaijan in February 2024, the fund's Chairman of the Management Board Osman Khaliyev told Trend.
Khaliyev answered Trend's question during the press conference dedicated to the results of activity for 2023.
"Everything is ready to go from the technical point of view. Currently, we are preparing the relevant papers. We expect the system to be launched in February this year," he noted.
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. The total cost of investment projects amounts to 459.9 million manat, or $270.5 million, and the volume of lending has increased by almost 33 percent.
In 2022, entrepreneurs in Azerbaijan received loans worth 145.9 million manat ($85.8 million) through the Entrepreneurshıp Development Fund of Azerbaijan.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel