Azerbaijan’s Entrepreneurship Development Fund reveals amount of subsidies provided

The provision of subsidies on state-guaranteed loans to entrepreneurs affected by the pandemic continued in Azerbaijan in 2023, Chairman of the Board of the Entrepreneurship Development Fund under the Economy Ministry Osman Khaliyev said at a press conference, Report informs.

He noted that as part of the support program, until the end of last year, subsidies worth 52 million manats ($30.588 million) were paid to businessmen.

“In addition, subsidies in the amount of up to 10 percentage points of the annual interest rate on the loan continued to be provided to entrepreneurs affected by the pandemic and who had loan debt as of March 10, 2020. Until the end of last year, based on 5,071 applications to entrepreneurs with a loan balance of 893.4 million manats ($525.529 million), an interest subsidy in the amount of 73.3 million manats ($43.117 million) was paid,” the chairman added.