President of Azerbaijan orders improvement of mechanism of business support loans

President of Azerbaijan signed an executive order to increase effectiveness of state funds spending in order to boost entrepreneurship and improve spending mechanism in the country.

The order made amendments to the rules of money spending of the National Entrepreneurship Assistance Fund. Under the document, the amount of small, medium and large credits was increased dramatically. The maximum limit of loan rose from 5 to 10 million manats. The loans will be allocated for the term between 3 and 10 years depending on the amount of a loan.


/AzerTAc/