BAKU, Azerbaijan, January 22. The Entrepreneurship Development Fund of Azerbaijan, one of the main goals of which is to stimulate local production and business, has granted a soft loan to Cooky Chefs LLC, said Azerbaijani Economy Minister Mikail Jabbarov on X (Twitter), Trend reports.
"The Entrepreneurship Development Fund has provided Cooky Chefs LLC with a soft loan of 200,000 manat ($117,500) to produce flour products. Such support for small and medium businesses is aimed at increasing their role in the economy," the publication reads.
Meanwhile, the Entrepreneurship Development Fund of Azerbaijan provided 193.8 million manat ($113.8 million) in soft loans to finance 3,276 investment projects.
The total cost of investment projects is 459.9 million manat ($270.2 million), and the volume of loans has increased by almost 33 percent. Thanks to these loans, more than 3,000 new jobs have been created. 46.4 percent of issued credits were directed to the production of agricultural products, 43 percent to the production and processing of industrial products, 5.5 percent to the service sector, and 4.5 percent to tourism development projects. 72 percent of soft loans were directed to regions, and 28 percent to Baku city and the Absheron economic region.
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