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A subsidy is provided for loans taken

06.04.2020,15:55


April 6, Fineko/abc.az. Three credit-related programs have been suggested.

ABC.AZ reports that the statement was made by Deputy Economy Minister Sahib Mammadov in an interview for TV channel Ictimayi TV.

The deputy minister noted that the first program will concern loans taken out. According to Mammadov, speech is about additional portfolio of AZN 1 bn.

Mammadov also outlined the details of other programs: "For loans taken before 10 March a subsidy of 10% is envisaged. This support has a very large financial potential. The second program is intended for loans that will be taken in the future, that is, in the period after the pandemic, and the portfolio will amount to AZN 500 million. The main condition is that the loans will be given at a rate of 15% per annum for the period of 3 years. Here, the State will provide a 60% discount on collateral for the loan taken. Another concession is that 50% of this 15% is undertaken by the State."

By Elmir Murad