BAKU, Azerbaijan, July 7
By Zeyni Jafarov - Trend:
The Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan has issued preferential loans for 24.9 million manat ($14.6 million) via the authorized credit organizations from January to May 2021, the ministry's head Mikayil Jabbarov said on Twitter, Trend reports on July 7.
According to Jabbarov, these loans were used to finance 339 investment projects. As a result of the implementation of these projects, it will be possible to open up to 700 jobs.
The minister noted that 79 percent of preferential loans issued through the fund fell on business entities operating in the regions of Azerbaijan, and 21 percent - in Baku and surrounding villages.
About 37.6 percent of these loans were directed to manufacturing and processing of industrial products, 53.7 percent to agriculture, and 8.7 percent to development of other sectors, he added.