Azerbaijan extends deadline for granting subsidies to entrepreneurs

By Trend

The deadline for granting subsidies for interest accrued on loans taken out by entrepreneurs in local currency (AZN) has been extended in Azerbaijan, Trend reports.

This is reflected in the amendment to the Decree "On additional measures to improve the activities of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan" introduced by Decree of President of the Republic of Azerbaijan Ilham Aliyev.

According to the amendment, the Cabinet of Ministers, together with the Credit Guarantee Fund, will determine the funds required to provide subsidies in 2019-2025 for interest accrued on loans received by entrepreneurs in local currency from January 1, 2018, through December 31, 2022, and will take this into account in the draft state budget for the corresponding years.

Earlier, the Cabinet of Ministers, together with the Credit Guarantee Fund, had to determine the funds required to provide subsidies in 2019-2023 for interest accrued on loans received by entrepreneurs in local currency (AZN) from January 1, 2018, through December 31, 2020, and take this into account in the draft state budget for the corresponding years.