Azerbaijan Foresees Allocation Of Loans To Local Start-Ups - Official

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 13. Allocating loans to Azerbaijani startups is planned as part of the strategy for developing Azerbaijan's digital economy, Executive Director of the Center for Analysis and Coordination of the IV Industrial Revolution (4SIM) Fariz Jafarov said, Trend reports.

He made the statement during the training program on preparation for exports and foreign investments, "Digital small and medium-sized enterprises and startups ready to scale," within the framework of the project "Investments in the Digital Economy of Azerbaijan" (IDEA), held in Baku.

"As you know, a strategy for the development of Azerbaijan's digital economy has been developed, including 61 initiatives, among them nine key projects. Key projects include the creation of generative artificial intelligence in the Azerbaijani language, as well as the creation of a technology center for the digitalization of startups and companies. The strategy includes the allocation of loans to Azerbaijani startups. These loans can be provided by both Azerbaijani and foreign organizations. In addition, the strategy includes a program to export the services of startups to international markets, which contributes to the integration of Azerbaijani technologies into the global economy," he stressed.

Furthermore, the strategy for Azerbaijan's digital economy is expected to be approved and implemented this year. The document was prepared within the framework of the measure "Development and realization of the digital economy development strategy" of the Strategy of Socio-Economic Development of Azerbaijan for 2022-2026.

The Digital Economy Strategy will serve the formation of a sustainable and competitive digital economy in the country, turning Azerbaijan into one of the leading countries in this field.

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