BAKU, Azerbaijan, March 14. The Entrepreneurship Development Fund (EDF) in Azerbaijan disbursed 32.1 million manat in concessional loans to facilitate 547 projects in the initial two months of this year, with the expectation of generating over 500 new jobs, Trend reports.
A significant portion of the loans, 40.5 percent, was directed towards the agricultural sector, while 56 percent was allocated to industry, including agro-processing. The remaining 3.5 percent was assigned to other sectors.
Notably, a majority of the projects benefiting from these subsidized loans are located in the regions. Approximately 96.5 percent of the financed projects and around 75 percent of the total amount of loans issued have gone to businesses operating in the regions.
Additionally, the government continued to support micro, small, and medium-sized enterprises (SMEs) through favorable financial mechanisms. In the first two months of the year, 99.6 percent of the funded projects were owned by micro, small, and medium businesses.
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