Azerbaijan introduces portfolio-based support system for micro-entrepreneurs

Azerbaijan has launched a new portfolio guarantee mechanism to enhance financing opportunities for micro-entrepreneurs, Elshan Karimov, Director of the Credit Guarantee Department at the Mortgage and Credit Guarantee Fund, said, as quoted by Report.

Karimov noted that micro-entrepreneurs had previously remained outside the scope of existing credit support programs. The new portfolio guarantee system was specifically designed to address this gap.

"The mechanism provides for loans ranging from 5,000 to 50,000 manats with repayment terms from three months to three years. The interest rate on such loans should not exceed 25%. So far, around 350 entrepreneurs have already received financing," Karimov added.