Azerbaijan reveals amount of preferential loans to be issued to entrepreneurs in 2021

By Trend

The Entrepreneurship Development Fund operating under the Ministry of Economy of Azerbaijan plans to provide entrepreneurs with preferential loans worth 130 million manat ($76.4 million) in 2021, Chairman of the Board of the Entrepreneurship Development Fund Kanan Najafov said, Trend reports.

Najafov made the remark at an online press conference on the activities of the Fund over 2020 and tasks for 2021.

According to the Fund’s chairman, guaranteed loans to entrepreneurs in 2021 will amount to 370 million manat ($217.6 million).

Last year, the volume of preferential loans issued by the Fund amounted to 127 million manat ($74.7 million).

The Entrepreneurship Development Fund has been operating since 2002. It was created to strengthen state support for entrepreneurship, it is an important institutional organization that provides soft loans to entrepreneurs and implements its activities in accordance with the priorities of the development of the Azerbaijani economy.

(1 USD = 1.7 AZN on Feb. 9)