Up to AZN 50 million of subsidized loans given for financing investment projects


August 15, Fineko/abc.az. The Entrepreneurship Development Fund of the Ministry of Economy held 12 business forums devoted to subsidized loans with the participation of 1,500 entrepreneurs for Jan-Jun of the year, says Economy Minister Shahin Mustafayev.

Up to AZN 50 million of subsidized loans were given through the authorized credit institutions for the reported term to finance 510 investment projects for AZN 178 million. Implementation of investment projects with the use of those loans will contribute to opening of 1,265 jobs.

The minister pointed out that 68% of subsidized loans accounted for the agricultural sector, 32% for industrial production and processing, 44% for districts of the country, and 56% for the settlements of Baku.