12:41 - 10.05.2024

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May 10, Fineko/abc.az. Over the past 3 years, in 432 cases, there has been a complete and partial deviation from the purpose of preferential loans given in Azerbaijan, ABC.AZ reports, quoting Osman Khaliyev, the chairman of board of the Entrepreneurship Development Fund.

He said that 45.4 million manats had been returned in these cases.

"We carry out regular educational work on the use of finances for their intended purpose. As deviations from the destination lead both to incorrect formation of statistical data in the future and to a potential reduction in our portfolio. In relation to the concessional loans given, there are cases of complete and partial refusal of appointment or refusal to use them for their intended purpose. In this case, we look at the initial data of the business entity submitted by the bank to the Fund. In this data, we determine exactly which works should be performed at the expense of the allocated loans. In case of incomplete or partial completion of the work provided, we have the right to demand from the authorized organization the return of the unused portion of these finances," Khaliyev.