State to pay 10% of business loan - Another governmental support


June 23, Fineko/ The State allocated AZN 100 million to subsidize the loans within the loan portfolio of AZN 1 bn.

ABC.AZ reports that the statement was made by Nurana Ibadova, the department head at the Entrepreneurship Development Fund.

According to Ibadova, EDF will pay on 10 percentage points of the loan taken by the entrepreneur to credit organizations.

Simply stated, if the entrepreneur took a loan at 17%, then 10 percentage points of this loan will be paid by the State to the account of credit organizations.