Terms for soft loan issuing to entrepreneurs to change in Azerbaijan
Azerbaijan, Ganja, March 27 / Trend , V.Mammadov/
The Azerbaijan Economic Development Ministry National Entrepreneurship Support Fund proposes to amend the rules governing granting of soft loans, Chairman Shirzad Abdullayev said on March 26.
The Fund proposes to reduce loan rate to 6 percent from the current 7 percent, Abdullayev said.
The Fund also proposes to raise the maximum amount of loans from three million to 5 million manat, he said.
The goal is to take measures that would facilitate access to loans, Abdullayev said.
Use of loans by entrepreneurs not for purpose was revealed in the past years. The funds were returned, he said.
Fund's loan resources are distributed through 35 authorized loan organizations (30 banks, one non-banking loan organization, and four loan unions), selected by a competitive commission.
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