Azerbaijan's State Tourism Agency Makes Decision On Interest Subsidy Related To COP29
Date
2/21/2024 3:09:20 AM
(MENAFN- AzerNews)
tourism Agency Makes Decision On Interest Subsidy Related To COP29 Image' Width='242' Height='268'/>
Ulviyya Shahin Read more
The Chairman of the Agency, Fuad Nagiyev, signed a new decision
in this regard, Azernews reports.
The Collegium of the State Tourism Agency approved the
"Procedure for the issuance and form of the Confirmation Document"
to provide interest subsidies on loans in manat obtained from
resident banks and non-bank credit organizations (NBCOs) by
entrepreneurs for projects related to COP29, the 19th session of
the Conference of the Parties to the Kyoto Protocol, and the 6th
session of the Conference of the Parties to the Paris Agreement, to
be held in Azerbaijan in November of this year.
According to the decision, entrepreneurs need to submit the
project's implementation plan (business plan) and expenditure
estimate to qualify for subsidies.
The president of the agency will create a commission to examine
applications, determine whether the confirming document should be
issued or not, and define its composition. A commission, led by the
agency's president or an acting person in their absence, will be
created to review applications and decide on the issuance of the
confirmation document within 5 business days. If the decision is
positive, the confirmation document will be prepared within 2
business days and sent to the address provided by the entrepreneur
by mail.
If the Agency obtains information based on substantiated facts
that the project for which the Confirmation Document was issued
violates the requirements of the Regulation, and when these
violations cannot be rectified, the Agency will make a decision to
revoke the Confirmation Document and inform the entrepreneur and
the Fund for the Development of Entrepreneurship under the Ministry
of Economy within 1 business day.
The Legal Sector of the Agency is tasked with submitting this
decision to the Ministry of Justice for inclusion in the State
Register of Legal Acts within 3 days.
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