BAKU, Azerbaijan, August 23. The volume of preferential business lending in Azerbaijan through the Entrepreneurship Development Fund amounted to 64.8 million manat ($38.1 million) in the first half of 2023, the Fund told Trend.
A total of 1,295 projects have been financed in seven months, the implementation of which will create 937 jobs.
The fund's agent banks issued loans worth 12.9 million manat ($7.6 million) for the implementation of 364 projects during July.
In addition, the volume of concessional lending to businesses in Azerbaijan through the fund is planned to reach 150 million manat ($88.2 million) in 2023.
In general, the Azerbaijan Entrepreneurship Development Fund financed 2,726 investment projects in 2022. In total, the fund has issued preferential loans in the amount of 145.9 million manat ($85.8 million).
According to the fund, 87.1 million manat ($51.2 million) of the loans issued are for the production of agricultural products, 37.3 million manat ($21.9 million) for the production and processing of industrial products, 9.1 million manat ($5.4 million) for tourism and 12.4 million manat ($7.3 million) for other industries.