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Azerbaijani businessmen get preferential loans worth about 25M manats

12 April 2019 12:21 (UTC+04:00)
Azerbaijani businessmen get preferential loans worth about 25M manats

By Trend

Since the beginning of 2019, Azerbaijan’s Entrepreneurship Development Fund has provided businessmen with preferential loans worth 24.7 million manats to finance 183 investment projects worth 88 million manats, Deputy Chairman of the Board of the Fund Samir Humbatov said.

He was speaking at a business meeting as part of the business forum held in Masalli city, Trend reports with reference to the Economy Ministry.

He noted that the implementation of these investment projects will create conditions for the opening of more than 870 jobs.

Further, speaking of the work done, he added noted that on the whole, 3,400 entrepreneurs of the Lankaran economic region have so far received preferential loans worth 123.6 million manats for the implementation of various investment projects.

During the meeting as part of the forum, 31 entrepreneurs of the Lankaran economic region received preferential loans worth 719,000 manats. The loans will be used to finance such industries as livestock, poultry, agriculture, bread production, tourism and other sectors of the economy.

For the development of tea production, in general, preferential loans worth 10.3 million manats have been allocated so far.

Azerbaijan’s Entrepreneurship Development Fund was established under the Ministry of Economy of Azerbaijan in 1992.

(1.7 manats = 1 USD on April 12)

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