Entrepreneurship Dev't Fund allocates $53m in concessional loans to 1,963 entrepreneurs

By Azernews

By Ayya Lmahamad

The Entrepreneurship Development Fund has allocated AZN90.2 million ($53m) in concessional loans to 1,963 entrepreneurs, Azerbaijan's Economy Minister Mikayil Jabbarov said, Azernews reports.

The minister added that the funds of AZN62.8 million ($36.9m) were allocated to 1,953 small and medium-scale projects, as a result of which nearly 2,100 new jobs have been created.

He mentioned that 68.8 percent of the concessional loans have been provided for the agrarian sector, and 31.2 percent for the manufacturing and processing of industrial products. At the same time, 83.3 percent of the funds fall on regions and 16.7 percent on Baku city, the minister added.

"Since the beginning of this year, the Entrepreneurship Development Fund (@sahibkarliq) has allocated 90.2 mln. ? in #concessionalloans to 1,963 entrepreneurs, as well as 62.8 mln. ? on 1,953 small and medium-scale projects. As a result, nearly 2,100 new jobs have been created. 68.8% of the concessional loans have been provided for the #agrariansector, 31.2% - manufacturing and processing of #industrial products, whilst 83.3% of the loans for regions and 16.7% - settlements of Baku," the minister tweeted.