2024-05-07 14:43:08
The Azerbaijan Entrepreneurship Development Fund, one of the main goals of which is to stimulate local production and business, provided a preferential loan to individual entrepreneur (IP) Khumaya Mammadova.
As Day.Az reported on Monday, Azerbaijani Minister of Economy Mikail Jabbarov wrote about this on the social network X.
“The Entrepreneurship Development Fund provided entrepreneur Khumaya Mamedova with a soft loan in the amount of 150,000 manats for the implementation of a project to provide hotel and restaurant services in Guba. Supporting women entrepreneurs is one of the priorities of our activities,” the publication says.
Let us recall that in 2023, the Azerbaijan Entrepreneurship Development Fund provided preferential loans in the amount of 193.8 million manat to finance 3,276 investment projects.
The total cost of investment projects is 459.9 million manat, and the volume of lending increased by almost 33 percent. Thanks to these loans, more than 3,000 new jobs were created. 46.4 percent of loans issued were directed to the production of agricultural products, 43 percent to the production and processing of industrial products, 5.5 percent to the service sector, and 4.5 percent to tourism development projects. 72 percent of preferential loans were directed to the regions, and 28 percent to the city of Baku and the Absheron economic region.