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An MP made an interesting proposal to secure the loan

25.02.2021,12:36


February 25, Fineko/abc.az. The 10th Azerbaijan Microfinance Online Conference on the theme "Prospects in the Post-Pandemic Period: Towards Digitalization" has been held today.

ABC.AZ reports that at the conference a member of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship, Mahir Abbaszadeh, noted that we should focus less on the villagers in the issues of securing loans.

According to the MP, speech is about a small business to be created.

"Today, small businesses have some difficulties in accessing finance. It is very difficult for them to provide collateral. Currently, based on the proposals of the Ministry of Economy, the government undertakes to provide 60% of guarantees for new loans in the amount of over 500 million manats for large businesses. I would suggest that a similar approach should be applied to small business loans in the future. That is, 60% -70% of the collateral should be provided by the Azerbaijani Mortgage and Credit Guarantee Fund," Abbaszadeh said.