BAKU, Azerbaijan, January 8. Azerbaijan's Entrepreneurship Development Fund, one of whose key purposes is to promote local manufacturing and business, has given concessional credit to LENK FRUIT LLC, the country's Economy Minister Mikayil Jabbarov wrote on X (Twitter), Trend reports.
Jabbarov stated that the loan of one million manat ($590,000) was provided for a gardening improvement project aimed at cultivating intensive citrus crops.
"As a result of the project to be implemented in Lankaran, 30 new jobs will be created,” he added.
The Entrepreneurship Development Fund financed 2,726 investment projects in 2022. In total, the fund has issued concessional loans in the amount of 145.9 million manat ($85.8 million).
According to the fund, a total of 87.1 million manat ($51.2 million) of the issued loans are for the manufacturing of agricultural products, 37.3 million manat ($21.9 million) for the production and processing of industrial goods, 9.1 million manat ($5.3 million) for tourism, and 12.4 million manat ($7.2 million) for other industries.
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