Azerbaijani TV channel attracts additional preferential loan

ICT Materials 21 September 2018 14:13 (UTC +04:00)

Baku, Azerbaijan, Sept. 21

By Huseyn Veliyev - Trend:

The State Fund for the Development of Information Technologies of Azerbaijan has allocated an additional concessional loan in the amount of 1.5 million manats to Xezer TV, a source on the IT market of Azerbaijan told Trend.

The source noted that the raised funds will be used to improve the quality of broadcasting and to purchase studio equipment.

"In addition, 800,000 manats were allocated in the form of a loan to the Azerbaijani IT company Bakinity for the implementation of the project in the field of "cloud" technologies," the source said.

Pasha Bank, Bank Respublika, Rabita Bank, XalqBank, Bank BTB and Kapital Bank are the authorized banks of the state fund for credit financing of IT projects.

Currently, the budget of the state fund for credit financing of projects is just over three million manats.

The issuance of small, medium and large loans at the expense of the state fund has been envisaged. The amount of small loans can vary from 10,000 to 50,000 manats (for the period of three years), medium loans - from 50,000 to 500,000 manats (for the period of up to five years), large loans - from 500,000 to 5,000,000 manats (for the period of up to 10 years). The annual interest rate on loans is five percent.

The official exchange rate on September 21 is 1.7 AZN/USD


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