15:29 - 16.01.2025

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January 16, Fineko/abc.az. As of December 31, 2024, at the expense of guarantees provided by the Azerbaijan Mortgage & Credit Guarantee Fund, authorized banks gave loans to entrepreneurs for 549.5 million manats, ABC.AZ reports, referring to the AMCGF.

In 2023, the authorized banks gave loans for totally 118.6 million manats.

In order to increase entrepreneurs' access to financial resources and reduce the payment burden due to finances allocated from the State Budget, the AMCGF provided subsidies for 47.4 million manats for accrued interests on business loans in 2018-2024.

While the average interest rate set by banks on guaranteed loans was 14.4%, borrowers were paid interests in the amount of 6.2% due to subsidies.

The guaranteed loans are mainly aimed at the tourism and catering sectors of the economy, trade, construction and agriculture, industry, as well as the production and processing of industrial products, food products, as well as machinery and equipment.

More than 6,500 new jobs are to be created as part of business projects financed by the mortgage loans.