Entrepreneurship Development Fund provides $114M worth of concessional loans

In 2023, the Entrepreneurship Development Fund under the Ministry of Economy granted concessional loans worth 193.8 million manats ($114 million) for the financing of 3,276 investment projects with a total value of 459.9 million manats ($270.5 million), Osman Khaliyev, Chairman of the Board of Directors of the Foundation, said at a press conference, Report informs.

He noted that these loans made it possible to open more than 3,000 new jobs: "46.4% of loans were issued for the production of agricultural products, 43% for the production of industrial products, 5.5% for the service sector, and 4.5% for the tourism sector. 72% of the concessional financing fell to the share of the regions, and 28% to Baku and Absheron. In particular, 11.5 million manat ($6.8 million) loans were allocated for the financing of 4 projects implemented in the liberated territories."