(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 6. Individualentrepreneur (IE) Humaya Mammadova received a soft loan from theEntrepreneurship Development Fund of Azerbaijan, which promoteslocal industry and entrepreneurship, Azerbaijani Economy MinisterMikayil Jabbarov said on X, Trend reports.
“Entrepreneur Humaya Mammadova will be able to carry out herproposal for Guba's hotel and restaurant services with the help ofa concessional loan from the Entrepreneurship Development Fund,which amounts to 150,000 manat ($88,235). Our organization places apremium on assisting female entrepreneurs,” the publicationsays.
In 2023, the Entrepreneurship Development Fund of Azerbaijanprovided soft loans worth 193.8 million manat or $114 million tofinance 3,276 investment projects.
Investment projects total 459.9 million manat ($270.5 million),with loans rising by approximately 33 percent, creating over 3,000jobs. This was the credit distribution: 46.4 percent foragriculture, 43 percent for industrial and processing, 5.5 percentfor services, and 4.5 percent for tourism. Regional soft loanstotaled 72 percent, with 28 percent going to Baku and Absheron.
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