Azerbaijan Details Loans For Entrepreneurs In Liberated Territories Under Guarantee-Subsidy Mechanism

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 3. Under the "Support for Entrepreneurs Operating in the Liberated Territories" mechanism, state guarantees have been offered for up to 90 percent of loans taken by entrepreneurs executing investment projects in these areas through both banks and non-bank credit institutions since February 2024, Trend reports via the Entrepreneurship Development Fund (EDF).

According to the EDF, this initiative has already supported entrepreneurs in the region.

Additionally, the annual interest rate of these loans is subsidized by the state by 10 percentage points for a period of up to 36 months, with a grace period of up to half of the loan term, not exceeding 36 months.

In the previous year, entrepreneurs in the liberated areas submitted applications for this guarantee-subsidy mechanism for twelve projects, resulting in loans totaling 23.4 million manat ($13.7 million), with the state providing guarantees for 19.2 million manat ($11.2 million). Additionally, a subsidy of 6.2 million manat ($3.6 million) for these loans has been approved.

These funded projects span various sectors, including industry, services, tourism, and agriculture. The projects are being implemented in areas such as Shusha, Khankendi, Aghdam, Jabrayil, and Khojaly, contributing to the region's economic development.

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