BAKU, Azerbaijan, Feb. 16
By Fidan Babayeva - Trend:
The Entrepreneurship Development Fund of Azerbaijan under the Ministry of Economy issued preferential agricultural loans worth 56.5 million manat ($33,2 million) in 2020, Trend reports with reference to the Fund.
According to the Fund, loans were issued for the implementation of 824 projects for the production of agricultural products.
As reported, 15.8 million manat ($9.3 million) of concessional loans were directed to the implementation of nine projects for the processing of agricultural products.
“Some 44.5 percent of concessional loans were directed to agricultural production, 12.5 percent - to processing agricultural products, 37.3 percent - to production and processing of industrial products, 5.7 percent - in tourism,” said the report.
The Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan has been operating since 2002. It was created to strengthen state support for entrepreneurship and implements its policy in accordance with the development priorities of Azerbaijan's economy.