Entrepreneurship Dev't Fund allocates $42.4m in concessional loans to 1,732 entrepreneurs

By Azernews

By Ayya Lmahamad

Azerbaijan's Entrepreneurship Development Fund has allocated AZN72.1 million ($42.4m) in concessional loans to 1,732 entrepreneurs, within the framework of state support for the private sector, since the beginning of 2022, Economy Minister Mikayil Jabbarov said, Azernews reports.

The minister noted that the fund has also allocated AZN53.4 million ($31.4m) on 1,725 small and medium-sized projects, as a result of which 1,690 new jobs have been created.

He mentioned that 71.4 percent of the concessional loans fall on the agrarian sector, and 28.6 percent on manufacturing and processing of various industrial products. At the same time, 88.2 percent of the funds fall on regions and 11.8 percent on Baku city, the minister added.

"Since the beginning of this year, within the framework of the state support for the private sector, the Entrepreneurship Development Fund (@sahibkarliq) has allocated 72.1 mln. ? in #concessionalloan to 1,732 entrepreneurs, as well as 53.4 mln. ? on 1,725 small and medium-scale projects. As a result, 1,690 new jobs have been created. 71.4% of the concessional loans fall on the agrarian sector, 28.6% - on manufacturing and processing of various industrial products, whilst 88.2% of the funds fall on regions and 11.8% - Baku city," he wrote on his official Twitter page.