Azerbaijan Entrepreneurship Development Fund discloses priority areas for financing

2018-10-02 10:59:37

(MENAFN- Trend News Agency ) Baku, Azerbaijan, Oct. 2

By Taleh Mursagulov – Trend:

The Azerbaijani Entrepreneurship Development Fund intends to finance the projects aimed at exporting Azerbaijani products, deputy chairman of the fund Arif Valimammadov said on Oct. 2.

"Our goal is to reduce the import of goods, arrange the production of goods that meet international standards for us to be able to organize the export of these goods," he said.

'Moreover, the Entrepreneurship Development Fund considers financing the enterprises created using innovative technologies as a priority,' Valimammadov added.

In particular, animal husbandry, logistics centers, fruit and vegetable processing enterprises and tourism still remain priority areas.

The minimum amount of a soft loan that the Fund can provide is 5,000 manats, while the maximum amount is 10 million manats.

Small loans (from 5,000 manats to 50,000 manats) are allocated for a period of up to three years, medium loans (from 50,001 manats to one million manats) for a period of five years, big loans (from 1,000,001 manats to 10 million manats) - up to 10 years.

(1.7 manats = $1 on Oct. 2)

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