BAKU, Azerbaijan, Jan. 15
By Zeyni Jafarov - Trend:
The Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan continued its activities to educate entrepreneurs, stimulate entrepreneurship, and issue soft loans in 2020, Trend reports citing the ministry.
Last year, the fund issued preferential loans worth over 127 million manat ($74.7 million) to business entities, which were intended to finance 908 investment projects with a total value of 397 million manat ($233.5 million), said the ministry.
As reported, the implementation of these loans will create more than 2,700 new jobs. In the structure of preferential loans, 58 percent was directed to the development of the agricultural sector, 42 percent - to the production and processing of industrial products and other industries.
The ministry also noted that 79 percent of the total volume of preferential loans falls on the regions of Azerbaijan, and 21 percent - on the settlements of Baku.
Preferential lending to entrepreneurs will continue this year as well, the ministry added.
(1 USD = 1.7 manat on Jan.14)
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