BAKU, Azerbaijan, Aug. 10
By Fidan Babayeva - Trend:
Azerbaijan’s Ministry of Economy presented a new electronic credit platform for entrepreneurs in June this year, Trend reports referring to the ministry.
More than 2,000 applications for business loans in the total amount of 630 million manat ($370.5 million) were received through the electronic credit platform by August 5. Decisions to issue loans totaling 12.5 million manat ($7.3 million) on 98 applications have already been made.
"Currently, other applications are being considered, and within the prescribed time, entrepreneurs will be informed of the decisions," the ministry said.
Provision of business loans through the e-system provides a number of benefits for entrepreneurs. Their online applications are simultaneously considered by authorized credit institutions and the Ministry of Economy thus creating the opportunity to track the status of applications in real time.
(1 USD = 1.7 AZN on Aug. 10)
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