To enhance the accessibility of financial resources for business entities, in 2023, the Entrepreneurship Development Fund allocated 193.8 million manats ($113.86 million) in concessional loans, supporting the financing of 3,276 investment projects with a total investment volume of 459.9 million manats ($270.23 million). According to Azernews, this was shared by Azerbaijani Economy Minister Mikayil Jabbarov on the X social network.
The Minister says that this initiative resulted in the creation of over 3,000 new jobs.
“Notably, 99.8% of the loans were extended to micro, small, and medium-sized businesses in terms of project numbers and 91.1% in terms of loan amounts.”
It should be noted that the President of the National Confederation of Entrepreneurs (Employers) Organisations of Azerbaijan, Mammad Musayev, informed that the Azerbaijan Entrepreneurship Development Fund has provided preferential loans to more than 45,600 business entities over the past 20 years.
