Azernews.Az

Monday December 23 2024

Entrepreneurship Dev't Fund guarantees $171.6m credit, subsidy support to entrepreneurs over COVID-19

27 July 2022 16:34 (UTC+04:00)
Entrepreneurship Dev't Fund guarantees $171.6m credit, subsidy support to entrepreneurs over COVID-19

By Ayya Lmahamad

Azerbaijan's Entrepreneurship Development Fund has guaranteed AZN291.8 million ($171.6m) to 2,630 applications by entrepreneurs affected by the pandemic, Economy Minister Mikayil Jabbarov said, Azernews reports.

Within the framework of the state-guaranteed #credit and #subsidy support, from June 2020 to July 1 of this year, the Entrepreneurship Development Fund (@sahibkarliq) guaranteed 291.8 mln. ₼ to 2,630 applications by entrepreneurs affected by the pandemic with a loan demand of 499.8 mln. ₼. In total, 29.9 mln. ₼ of subsidies were paid to entrepreneurs for guaranteed loans," Jabbarov wrote on his official Twitter page.

The minister also noted that positive decisions were made on 5,022 of the 6,308 applications received regarding subsidizing interest on existing loans.

"Positive decisions were made on 5,022 of the 6,308 applications received regarding subsidizing interest on existing loans. The amount of the approved #subsidy is 69.4 mln. ₼, of which 65.1 mln. ₼ have been paid to entrepreneurs," he wrote.

--

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

Here we are to serve you with news right now. It does not cost much, but worth your attention.

Choose to support open, independent, quality journalism and subscribe on a monthly basis.

By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.

Subscribe

You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper

Thank you!

Loading...
Latest See more