TODAY.AZ / Business

Azerbaijan reveals number of investment projects financed through concessional loans

29 January 2024 [15:56] - TODAY.AZ
Nigar Hasanova

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.”

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