BAKU, Azerbaijan, Jan. 31
By Nazrin Israfilova - Trend:
An online credit platform was created in Azerbaijan to provide state-guaranteed loans to areas affected by the consequences of the COVID-19 pandemic, Osman Khaliyev, acting head of the board of the Azerbaijan Entrepreneurship Development Fund, told Trend.
According to Khaliyev, in 2021, state guarantees worth 300 million manat ($176.4 million) were provided for loans amounting to 500 million manat ($294.1 million).
"The program for the provision of state guarantees covered the period from June 30, 2020, through December 31, 2021. One of the advantages of this program is that businesses could apply for a loan via the online platform without contacting banks," he said.
He added that namely, the effective implementation of the online credit platform became the basis for the successful implementation of this program.
The Azerbaijan Entrepreneurship Development Fund and Cybernet LLC signed a contract in the amount of over 176,000 manat ($103,530) in 2021 to improve the online credit platform.