Amount of allocations for Azerbaijan's entrepreneurship dev't in 2020 revealed
By Trend
The Entrepreneurship Development Fund operating under the Ministry of Economy of Azerbaijan provided entrepreneurs with preferential loans worth 126.9 million manat ($74.6 million) in 2020 via the authorized credit organizations, said the Fund's Board Chairman Kanan Najafov, Trend reports on Feb.9.
Najafov made the remark at an online press conference on the activities of the fund over 2020 and tasks for 2021.
According to the chairman, preferential loans were issued to finance 908 investment projects worth 397 million manat ($233.5 million).
"The loans allowed open more than 2,700 new jobs. Some 57 percent of the loans were issued for the development of the agricultural sector (production and processing), and 43 percent - for the production and processing of industrial products and other industries," he stressed.
Najafov added that 79 percent of loans were issued in the regions of the country, and 21 percent - in Baku.