(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 25. The
Entrepreneurship Development Fund of Azerbaijan allocated 104.2
million manat ($61.2 million) of easy-term loans to 2,710 small and
medium-sized business projects throughout 2022, Minister of Economy
Mikayil Jabbarov tweeted, trend reports.
'The state support for entrepreneurs, stimulating measures, and
short-term loans ensure the favorable environment for business
activity,' the minister wrote.
In total, the Fund has financed 2,726 investment projects from
January through December 2022. In this regard, the Fund issued
easy-term loans worth 145.9 million manat ($85.7 million).
Out of the overall loans, 87.1 million manat ($51.16 million)
were issued to agricultural output, 37.3 million manat ($21.9
million) – the industrial production and processing, 9.1 million
manat ($5.3 million) – tourism, and 12.4 million manat ($7.28
million) – other industries.
The top five financial institutions providing short-term loans
include Bank Respublika (746 loans), Yelo Bank (350 loans), Unibank
(318 loans), Rabitabank (282 loans), and Agrarcredit NBCO (282
loans).
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