Economy Minister: Loans for AZN 24 million given for small and medium-sized projects for Jan-Sept


October 21, Fineko/abc.az. Over the past 9 months of 2019 the Entrepreneurship Development Fund gave subsidized loans to 887 entrepreneurs for AZN 130 million through authorized credit institutions, including for 857 small and medium-sized projects in the total amount of AZN 450 million.

The statement was made by Economy Minister and chairman of board Shahin Mustafayev at the enlarged meeting of the Board of the Ministry of Economy.

The minister points out that in recent years the EDF has allotted more than 400 hectares for the creation of a modern greenhouse and intensive garden farms on an area of 9,600 hectares for totally AZN 313 million within the further work on subsidized lending, the creation of logistics centers, the creation of additional sources of economic growth and stimulating measures aimed at expanding exports. This has had positive impact on the growth of agricultural exports in total export. Thus, 172,000 tons of tomatoes exported for $177.4 million and 319,200 tons of fruits for $325.6 million were exported last year. This means an increase in exports of tomatoes by 4.3 times (9.9-fold in value terms) and fruits by 70% (2.9-fold in value terms) compared with the years when the provision of subsidized loans in this area began.