Azernews.Az

By Trend

Azerbaijan is taking a number of measures to accelerate the investment process in the spheres affected by the pandemic, improve the financial situation of entrepreneurs, as well as support the financial and banking sector, Trend reports on Dec. 9 with reference to the Azerbaijani Ministry of Economy.

One of such measures is the Electronic Lending Platform, created by the Ministry of Economy to obtain quick loans, with the provision of a state guarantee to the entrepreneurs working in the spheres affected by the pandemic in a simplified and transparent manner.

The Azerbaijani Ministry of Economy stressed that the applications from entrepreneurs affected by the pandemic are being accepted through the Electronic Lending Platform.

So, 3,200 applications for getting business loans worth 907 million manat ($533 million) were registered through the Electronic Lending Platform in early December 2020. A decision was made to issue loans worth 145 million manat ($85 million) upon 471 applications.

At present, other applications are being considered. Entrepreneurs will be informed about the results through the electronic platform within the established period of time.

The issuance of business loans through the Electronic Lending Platform allows entrepreneurs to apply for them online, at the same time apply to the authorized credit organizations and the Entrepreneurship Development Fund and track the status of the application in real-time.

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