BAKU, Azerbaijan, February 14. In 2024, a whopping 53.3 percent of the loans dished out by the Entrepreneurship Development Fund found their way into the agricultural production pot.
The data obtained by Trend from the Fund shows that 38.1 percent of the loans were allocated to the manufacturing and refinement of industrial commodities, 2.1 percent to the tourism sector, and 6.5 percent to ancillary industries.
Moreover, an aggregate of 248.1 million manat ($145.9 million) has been earmarked for the disbursement of preferential loans aimed at catalyzing 5,722 entrepreneurial initiatives in the fiscal year 2024.
The Entrepreneurship Development Fund of the Republic of Azerbaijan was instituted in 1992. The fundamental objective of the fund is to deliver fiscal backing to commercial entities in Azerbaijan, facilitating the enhancement of synergies between governmental bodies and entrepreneurs, while fostering an ecosystem rooted in reciprocal trust through the advocacy of optimal global methodologies for the refinement of state support frameworks aimed at advancing entrepreneurial initiatives.
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