Amount of concessional loans granted to entrepreneurs in Azerbaijan disclosed

In January-April of 2024, the Entrepreneurship Development Fund under the Ministry of Economy granted concessional loans worth 61.3 million manats (over $36 million), Namig Zeynalov, advisor to the Chairman of the Foundation, told Report.

According to him, these funds were paid for 1,684 projects: "963 new jobs are expected to be created as a result of the implementation of the projects."

“Meanwhile, in 2023, Entrepreneurship Development Fund granted concessional loans worth 193.8 million manats (about $114 million) to finance 3,276 investment projects with a total value of 459.9 million manats (over $270.5 million),” Zeynalov added.

Of the mentioned loans, 46.4 percent was directed to the agricultural production, 43 percent to the manufacturing and processing of industrial products, 5.5 percent to service sector, and 4.5% to tourism development projects, the advisor stated.

He also pointed out that more than 3,000 new jobs have been created thanks to these loans.