BAKU, Azerbaijan, February 13. A significant proportion of the concessional loans granted by Azerbaijan's Entrepreneurship Development Fund in 2022 accounts for micro, small, and medium-sized entrepreneurship entities, Trend reports via the tweet of Azerbaijan's Minister of Economy Mikayil Jabbarov.
"Last year, these business entities were allocated 99.9 percent of the total number of loans, and 98.3 percent of the total amount," said the tweet.
In total, the Fund has financed 2,726 investment projects from January through December 2022. In this regard, the Fund issued easy-term loans worth 145.9 million manat ($85.7 million).
Out of the overall loans, 87.1 million manat ($51.16 million) were issued to agricultural output, 37.3 million manat ($21.9 million) – the industrial production and processing, 9.1 million manat ($5.3 million) – tourism, and 12.4 million manat ($7.28 million) – other industries.
The top 5 financial institutions by the number of concessional loans issued are as follows: Bank Respublika - 746 concessional loans, Yelo Bank - 350, Unibank - 318, Rabitabank - 282, and "Aqrarkredit" NBCO - 282.