State Tourism Agency of Azerbaijan to subsidize loans for projects linked to COP29

The Board of the State Tourism Agency of Azerbaijan has approved the form and procedure for issuing a supporting document to subsidize interest on loans to entrepreneurs, Report informs.

The decision is signed by the chairman of the agency Fuad Naghiyev.

It envisages subsidizing interest on manat loans issued to entrepreneurs by resident banks and non-bank credit organizations for the implementation of projects in connection with the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), the 19th session of the Meeting of the Parties to the Kyoto Protocol and 6th session of the Meeting of the Parties to the Paris Agreement, which will be held in Azerbaijan.

According to the document, to receive a subsidy, entrepreneurs must submit a business plan and cost estimate.

The agency will create a special commission to consider appeals.