Economy minister: Entrepreneurs provided with $1.5bn soft loans in 2002-20

30 March 2021 15:23 (UTC+04:00)

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By Ayya Lmahamad

The Entrepreneurship Development Fund has provided soft loans amounting to AZN 2.6 billion ($1.5bn) to more than 38.000 entrepreneurs in 2002-20, Azerbaijan Economy Minister Mikayil Jabbarov wrote on his official Twitter page on March 29.

The minister noted that the soft loans were provided for the implementation of investment projects worth AZN 5.9 billion ($3.4bn).

Moreover, he added that this allowed the creation of more than 173,000 new jobs.

Earlier, Jabbarov underlined that the fund's strategic goals for 2021-23 include expanding access of entrepreneurs to financial resources, support to establishing and developing enterprises based on innovative technologies and sustainable development of the fund.

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad