Fund Of Azerbaijan Allocates Soft Loan To Boost Domestic Production

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 9. The Entrepreneurship Development Fund of the Republic of Azerbaijan, one of the main goals of which is to stimulate local production and business, has provided a preferential loan to Miran-19 LLC, the Minister of Economy of Azerbaijan, Mikayil Jabbarov said, Trend reports.

“Miran-19 LLC has received 195,000 manat ($114,705) in concessional loans from the Entrepreneurship Development Fund for the project aimed at plastic goods production. The project will be executed in the Lankaran district,” said Jabbarov on X (Twitter).

The Entrepreneurship Development Fund financed 2,726 investment projects in 2022. In total, the Fund has issued concessional loans in the amount of 145.9 million manat ($85.8 million).

According to the Fund, a total of 87.1 million manat ($51.2 million) of the issued loans are for the production of agricultural products, 37.3 million manat ($21.9 million) for the production and processing of industrial goods, 9.1 million manat ($5.3 million) for tourism, and 12.4 million manat ($7.2 million) for other industries.

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