(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 17. The Azerbaijan
Entrepreneurship Development Fund, one of the main goals of which
is to stimulate local production and business, has allocated
300,000 manat ($176,470) in concessional loans to A.K.S. LLC,
trend reports
citing the tweet of Economy Minister Mikayil Jabbarov.
According to the tweet, the loan was allocated as part of
measures to support domestic production for the financing of
projects on the production of plastic goods in the Aghdash
district.
In total, the Fund has financed 2,726 investment projects in
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 5 financial institutions by the number of concessional
loans issued are as follows: Bank Respublika - 746 concessional
loans, Yelo Bank - 350, Unibank - 318, Rabitabank - 282, and
'Aqrarkredit' NBCO - 282.
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