Azerbaijani Entrepreneurship Development Fund issues loans worth over 450,000 manats

Some 103 million manats was allocated to finance investment projects worth 404.8 million manats in 2019, which is more than a quarter of the total cost, Azerbaijani Economy Minister Sahib Mammadov said.

Mammadov made the remarks in Azerbaijan’s Lerik district during the business forum on preferential loans to entrepreneurs, which was organized by the Entrepreneurship Development Fund, Trend reports on Sept. 12.

“Some 3,500 new job places were created in the country thanks to these funds,” he added.

Within the business forum, the Entrepreneurship Development Fund issued preferential loans in the amount of 456,400 manats to 36 entrepreneurs operating in Lankaran economic district These loans are envisaged for the development of livestock, agriculture, horticulture, as well as the creation of up to 50 job places.

In total, 125.7 million manats has been allocated since the beginning of the fund’s activity to finance more than 3,500 investment projects of entrepreneurs of Lankaran economic district.

A day earlier, the Entrepreneurship Development Fund issued the preferential loans worth 686.6 million manats to Baku’s entrepreneurs for the implementation of over 2,731 projects.