Loans to entrepreneurs to be given within 50%


July 10, Fineko/abc.az. Stability of the manat, control of single-digit inflation, full deposit insurance, resolution of problem loans and remoteness of some banks from the sector are basic measures to maintain health in this sphere.

ABC.AZ was stated about this by Vusal Gasimli, the head of the Center for Analysis of Economic Reforms & Communications.

According to Gasimli, the state, not content with the above-said, supports the expansion of the loan portfolio of banks. He noted that providing governmental guarantees for bank loans to entrepreneurs affected by the pandemic and subsidizing credit interests will prevent the appearance of problem loans: “Thus, 60% of new loans for AZN 500 million to be received by entrepreneurs will be provided with governmental guarantee of AZN 300 million. The guarantee for the new loans will be carried out at the expense of the Guarantee Fund on the state debt and guarantee. The subsidy will be provided within 50% of the annual interest rate of new loans."