Azerbaijan's Nakhchivan Witnesses Sharp Upswing In Loan Repayments
Date
1/10/2025 3:10:26 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 10. The
Entrepreneurship Development Fund in Azerbaijan's Nakhchivan
Autonomous Republic has hit the nail on the head by ensuring the
repayment of preferential loans in 2024, raking in 17.7 million
manat ($10.4 million), which is a whopping 2.9 times more than the
previous year, Trend reports via the Ministry of Economy of the
Nakhchivan.
According to the ministry, the region experienced a significant
uptick in the repayment of problematic loans, amounting to 11
million manat ($6.4 million) in 2024, representing an increase
exceeding fourteenfold compared to the preceding year.
The residual assets of the Fund have escalated almost threefold
since the commencement of the fiscal year, attaining a valuation of
19.2 million manat ($11.2) as of the first day of January 2025.
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