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Azerbaijan Entrepreneurship Dev't Fund talks soft loans for agriculture

Economy Materials 29 January 2022 14:28
Azerbaijan Entrepreneurship Dev't Fund talks soft loans for agriculture

BAKU, Azerbaijan, Jan. 29

By Nazrin Israfilova - Trend:

Some 59 percent of soft loans issued by the Azerbaijan Entrepreneurship Development Fund were directed to the development of the agricultural sector in 2021, the fund said at a briefing on the results of last year's activities, Trend reports.

According to the fund, 33 percent of the soft loans were directed to the production and processing of industrial products, three percent fell on tourism, five percent - on education, medicine and other sectors.

In total, 76.2 percent of the loans accounted for the regions, and 23.8 percent - on settlements around Baku.

More than 3,200 new jobs have been created owing to the loans.

In 2021, the Azerbaijan Entrepreneurship Development Fund provided soft loans worth 130.6 million manat ($76.8 million) to finance 1,902 investment projects worth 287.7 million manat ($169.2 million).

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