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Vusal Gasimli: Subsidies with rate below 10% given in size of loan interest rate

10.07.2020,15:58


July 10, Fineko/abc.az. A 10% subsidy will be provided for loans to entrepreneurs in the pandemic affected districts.

ABC.AZ reports that the relevant statement was made by Vusal Gasimli, the head of the Center for Analysis of Economic Reforms & Communications.

He noted that if the interest rate is lower than 10%, the subsidy is provided in the amount of the loan interest rate.

According to Gasimli, in Azerbaijan, taking into account the average loan interest and inflation, it is provided cheaper financial resources for entrepreneurs: "Providing interest subsidies on the existing loan portfolio of AZN 1 bn, as well as governmental guarantees on new loans of AZN 500 million and subsidizing interests, in general, supporting the loan portfolio of AZN 1.5 bn. This is more than 10 phases of the current loan portfolio in the country."