Azerbaijan reveals volume of funds allocated for loan interest subsidy
A total of 6,338 applications were received within the framework of the loan interest subsidy mechanism in Azerbaijan as of January 1, 2023, News.az reports via the tweet of Azerbaijani Economy Minister Mikayil Jabbarov.
According to the minister, positive decisions were made on granting subsidies for 5,052 of the received applications.
"As of January 1 of this year, 71.9 million manat ($42.2 million) subsidy has been approved on applications submitted to the Entrepreneurship Development Fund, of which 68.5 million manat ($40.2 million) have already been paid to entrepreneurs," said the tweet.
In total, the Fund has financed 2,710 projects of small and medium-sized businesses in the amount of 104.2 million manat ($61.2 million).
During the press conference on the results of 2022, the fund’s Board Chairman Osman Khaliyev said that Entrepreneurship Development Fund has adopted new lending mechanisms for business entities in the liberated territories. Within this mechanism, we allocated 450 million manat ($264.7 million) for state guarantees and 150 million manat ($88.2 million) for subsidies.