BAKU, Azerbaijan, March 12. The number of projects applied for by entrepreneurs operating in Azerbaijan's liberated territories under the guarantee and subsidy mechanism is 22, and the total amount of commercial loans approved for those projects by the fund is 32.3 million manat ($19 million), Deputy Chairman of the Board of the Entrepreneurship Development Fund Eldar Hamidov said at the 1st National Financial Accessibility Forum held in Baku today, Trend reports.
He mentioned that the fund, which has been operating for more than 30 years to increase the financial accessibility of entrepreneurs, has supported about 52 thousand entrepreneurs across the country within the framework of the preferential credit mechanism during this period.
"The total volume of preferential loans granted to these entrepreneurs exceeded 3.3 billion manat ($1.9 billion). In order to support the acceleration of investments in the liberated territories, the loans they receive from banks and non-banking credit organizations implementing investment projects in those territories are provided with guarantees and subsidies," the fund's official added.
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