16:13 - 18.03.2025

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March 18, Fineko/abc.az. By the end of 2023, the Nakhchivan Autonomous Republic (NAR) Entrepreneurship Development Fund had cooperated with 3 authorized credit organizations, and in 2 months of 2025 their number reached 8.

ABC.AZ reports that NAR EDF chairman of board Vusal Novruzov made the relevant statemetn at a meeting with entrepreneurs.

Novruzov added that 7 authorized credit institutions have financed 318 projects for totally 45.5 million manats.

"According to the number of soft loan projects given by the Fund in the 1st quarter of 2025 by economic sector, 72% are aimed at the development of agriculture, 21% - industry, 7% - services. He stressed that although the 1st quarter of this year has not yet been completed, the volume of concessional loans issued grew 4.7-fold against the same term of 2022, and this indicator also reflects a significant increase in the number of funded projects. The projects funded in the 1st quarter of this year accounted for 94% of the annual figure of the previous year.”