BAKU, Azerbaijan, June 23
By Fidan Babayeva - Trend:
The subsidies worth about 50 million manat ($29 million) were paid to entrepreneurs in Azerbaijan due to the consequences of the COVID-19 pandemic, the Azerbaijani Ministry of Economy told Trend.
The Entrepreneurship Development Fund under the Ministry of Economy continues to provide entrepreneurs with state guarantees upon new bank loans and subsidize interest on them, as well as subsidize part of the interest upon loans to entrepreneurs who already have credit debts as part of the measures being taken to accelerate investment in the spheres affected by the consequences of COVID-19 pandemic and preserve employment.
So, the state guarantees were issued in the amount of 149.7 million manat ($88.05 million) upon loans worth 258.3 million manat $151.9 million (upon 1,026 applications) until May 31, 2021.
A positive decision was also made to issue an interest subsidy in the amount of 57 million manat ($33.5 million) upon 4,497 applications. The subsidies worth 49.3 million manat ($29 million) have already been paid.
The applications from entrepreneurs upon the mechanism of state guaranteed loan and interest subsidies are accepted through an e-platform.
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