Volumes of soft loans granted to SMEs in 2022 disclosed

Last year, the Entrepreneurship Development Fund, subordinated to the Ministry of Economy of Azerbaijan, allocated soft loans of 104.2 million manats ($61.206 million) to small and medium-sized businesses (SMEs), Azerbaijani Economy Minister Mikayil Jabbarov tweeted, Report informs.

“During 2022, the Entrepreneurship Development Fund provided preferential loans of 104.2 million manats for 2,710 small and medium projects. State support for entrepreneurs, incentive measures and soft loans ensure the development of a favorable environment for entrepreneurial activity,” the minister said.