Volume Of Soft Loans To Entrepreneurs In Azerbaijan's Nakhchivan Revealed (PHOTO)
Date
12/4/2023 6:12:09 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 4. The
Entrepreneurship Development Fund under Azerbaijan's Ministry of
Economy has issued loans worth 1.4 million manat ($823,529) to
Nakhchivan entrepreneurs from February to November 2023, according
to Azerbaijani Economy Minister Mikayil Jabbarov on X (Twitter),
Trend reports.
"From February to November of this year, entrepreneurs in the
Nakhchivan Autonomous Republic benefited from the concessional loan
mechanism of the Ministry of Economy's Entrepreneurship Development
Fund." During this time, 21 Autonomous Republic microentrepreneurs
received concessional loans totaling more than 1.4 million
[$823,529]. Notably, the Autonomous Republic secured concessional
loans for 9 projects in agriculture, 6 in industrial products
production (including agrarian processing), 3 in public catering, 2
in logistics, and 1 in tourism," he stated.
In total, the Azerbaijan Entrepreneurship Development Fund
funded 2,726 investment projects in 2022. The Fund offered soft
loans totaling 145.9 million manat ($85.8 million).
According to the Fund's data, 87.1 million manat ($51.2 million)
of the issued loans are for agricultural product production, 37.3
million manat ($21.9 million) for industrial product production and
processing, 9.1 million manat ($5.3 million) for tourism, and 12.4
million manat ($7.2 million) for other sectors.
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