Azerbaijan allocates $22.2m to pandemic-affected entrepreneurs

By Azernews

By Ayya Lmahamad

Azerbaijan has allocated AZN37.9 million ($22.2m) to the pandemic-affected entrepreneurs from June 2020 to November 1, 2022, Economy Minister Mikayil Jabbarov said.

The minister noted that the funds were allocated within the framework of the state-guaranteed loan and subsidy mechanism.

"From June 2020 to November 1 of this year, 37.9 mln. ? were allocated to the pandemic-affected entrepreneurs within the framework of the state-guaranteed #loan and #subsidy mechanism," the minister tweeted.

To note, Azerbaijan takes consistent measures to mitigate the effects of the pandemic on businesses. These measures included financial support to protect jobs, the introduction of periodic tax breaks, the provision of soft loans, and others.