BAKU, Azerbaijan, November 10. Standard & Poor's (S&P) Global Ratings agency assigned short-term and long-term ratings to Azerbaijan’s Entrepreneurship Development Fund at BB-/B level with stable outlook, Trend reports on November 10 via the agency.
The Entrepreneurship Development Fund issued loans in the amount of 90.2 million manat ($53 million) to entrepreneurs since the beginning of 2022 as part of state support of private sector.
About 2,100 new jobs are expected to be created through the above loans. A total of 68.8 percent of the concessional loans have been provided for the agrarian sector, 31.2 percent for the manufacturing and processing of industrial products, whilst 83.3 percent of the loans for regions and 16.7 percent - settlements of Baku.