Azerbaijan Expands Support For AI Startups With New Loan Initiative

2025-03-19 06:12:42

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 18. Entrepreneurs in Azerbaijan will soon have access to preferential loans aimed at supporting the application of artificial intelligence (AI) technologies, with an expansion of guarantee and other support mechanisms, Trend reports.

The initiative is part of the "Artificial Intelligence Strategy of the Republic of Azerbaijan for 2025–2028," approved today by the President of the Republic of Azerbaijan Ilham Aliyev.

The Ministry of Economy has been appointed as the main executing body for the project, with the Ministry of Digital Development and Transport and the Ministry of Finance also involved.

The implementation of these activities will span from the years 2025-2028.

The initiative aims to address the financial challenges faced by entrepreneurs in implementing artificial intelligence (AI) technologies. This will involve the development and submission of draft legal acts for approval, focusing on the application of support mechanisms for businesses. Additionally, promotional activities will be carried out to increase access to preferential financial resources, targeting at least 50 entrepreneurs.

MENAFN19032025000187011040ID1109331948

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.