By Trend
The Entrepreneurship Development Fund of Azerbaijan (formerly
the National Entrepreneurship Support Fund) plans to allocate
preferential loans worth 170 million manats in 2018, Azerbaijan’s
Deputy Economy Minister Sahib Mammadov told reporters in Baku Oct.
2.
He said that since the beginning of the year, entrepreneurs have
already received preferential loans worth 113 million manats.
In accordance with the procedure, the annual interest rate on
the loans of the Fund is one percent, another four percent account
for the rate of an authorized credit institution. The minimum
amount of a preferential loan that the Fund can provide is 5,000
manats, and the maximum amount is 10 million manats.
At the same time, small loans (from 5,000 to 50,000 manats) are
allocated for a period of up to three years, medium loans (from
50,001 to 1 million manats) are allocated for a period of five
years, large loans (from 1,000,001 to 10 million manats) are
allocated for a period of up to ten years.
(1.7 manats = 1 USD on Oct. 2)
---
Follow us on Twitter @AzerNewsAz