Since early 2018 entrepreneurs in Azerbaijan received subsidized loans from state for AZN 117.3 million


October 11, Fineko/ The National Entrepreneurship Support Fund (NESF) of the Ministry of Economy of Azerbaijan continues giving subsidized loans to entrepreneurs on the new rules.

The Ministry reports that the new rules provide for a reduction in the interest rate on loans from 6% to 5% and a maximum loan amount of AZN 1 million.

"Under the new rules, entrepreneurs have already been given loans for AZN 5.3 million to be used to finance projects in the field of creation of agricultural parks, modern greenhouses and livestock complexes, production of construction materials, furniture, where there will be conditions for the creation of 200 new jobs," the NESF said.

Since the beginning of the year entrepreneurs have been given loans in the amount of AZN 117.3 million, and as a result more than 7700 new jobs will be opened.