Mikayil Jabbarov: Last year, 3,276 investment projects were financed through concessional loans

To enhance the accessibility of financial resources for business entities, in 2023, the Entrepreneurship Development Fund allocated 193.8 million manats ($113.86 million) in concessional loans, supporting the financing of 3,276 investment projects with a total investment volume of 459.9 million manats ($270.23 million), Azerbaijani Economy Minister Mikayil Jabbarov said on the social network X, Report informs.

According to him, this initiative resulted in the creation of over 3,000 new jobs: “Notably, 99.8% of the loans were extended to micro, small, and medium-sized businesses in terms of project numbers, and 91.1% in terms of loan amounts.”

To enhance the accessibility of financial resources for business entities, in 2023, the Entrepreneurship Development Fund (@sahibkarliq) allocated 193.8 mln. ₼ in #concessionalloans, supporting the financing of 3,276 #investment projects with a total investment volume of 459.9… pic.twitter.com/OKKXVQLtQJ

— Mikayil Jabbarov (@MikayilJabbarov) January 29, 2024