BAKU, Azerbaijan, January 25. The Entrepreneurship Development Fund of Azerbaijan will allocate 150 million manat ($88.1 million) for easy-term loans in 2023, Chairman of the Executive Board at the Entrepreneurship Development Fund of the Azerbaijani Ministry of Economy Osman Khaliyev said during a press conference on the 2022 results, Trend reports.
According to him, the Fund is aimed at increasing short-term loans issued to business entities on an annual basis.
A total of 2,726 investment projects have been financed from January through December 2022. In this regard, the Fund has given out easy-term loans worth 145.9 million manat ($85.7 million).
Out of the overall loans, 87.1 million manat ($51.16 million) were issued to agricultural output, 37.3 million manat ($21.9 million) – the industrial production and processing, 9.1 million manat ($5.3 million) – tourism, and 12.4 million manat ($7.28 million) – other industries.
The top five financial institutions providing short-term loans include Bank Respublika (746 loans), Yelo Bank (350 loans), Unibank (318 loans), Rabitabank (282 loans), and Agrarcredit NBCO (282 loans).