Entrepreneurship Development Fund to create new financial instruments

The Entrepreneurship Development Fund under the Economy Ministry of Azerbaijan plans to present new products at the market, the Fund’s Chairman of the Board Kanan Najafov told Report.

Najafov noted that new financial instruments will be introduced to the market in four stages.

“The fund is currently providing loans for investment projects. According to our observations, there is a demand for loans and working capital. At the first stage, we want to offer tools for factoring and leasing. We will provide factoring at a lower price and on preferential terms. Leasing will be offered through leasing companies. The plans in this direction are comprehensive,” he said.

“We plan to provide entrepreneurs with other new types of loans and instruments. For example, we want to support them financially by buying bonds issued by companies,” he added.