Hundreds of entrepreneurs in Azerbaijan receive preferential loans

Fri 19 Jul 2019 07:17 GMT | 11:17 Local Time

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On July 18, a working forum with the participation of entrepreneurs organized by the ministries of economy and agriculture was held in Azerbaijan’s Khirdalan city, Trend reports.

As part of the forum, the participants were given detailed information about the mechanism for obtaining preferential loans from the Entrepreneurship Development Fund under the Ministry of Economy, presentations were held on introductory projects of creating farms for growing olives, saffron, grapes, almonds, logistics centers in Absheron region, with the purpose of developing its economic potential.

During the event, Deputy Minister of Economy Sahib Mammadov informed the participants about the measures of state support for the development of the private sector, the work of the Entrepreneurship Development Fund for the development of the private sector, the expansion of business activities in the regions and surrounding settlements of Baku.

It was noted that over the past period of this year, 573 businessmen received preferential loans worth 52 million manats for the implementation of investment projects with potential to open more than 2,000 jobs and a total cost of 183 million manats.

Deputy Minister of Agriculture Ilham Guliyev spoke about the measures taken to develop the agricultural sector, the role of entrepreneurship in this area and financial incentives for entrepreneurs.

As part of the working forum, 15 entrepreneurs working in the territory of the Absheron economic region received preferential loans worth 2.5 million manats from the Entrepreneurship Development Fund. The loans will be directed mainly to the development of livestock breeding, horticulture, viticulture, the production of dried fruits, bread and other business segments.

In the reporting period, preferential loans totaling 677.6 million manats including loans allocated at the current forum were issued for the implementation of more than 2,700 investment projects of business entities in the Absheron economic region.




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