To date, the Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan has issued preferential loans in the amount of more than 3.2 billion manat.
As Day.Az reports with reference to Trend, this was stated by the Chairman of the Board of the Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan Osman Khaliev during the conference on the topic “Innovative solutions for sustainable microfinance”.
“To date, the Entrepreneurship Development Fund has issued preferential loans worth more than 3.2 billion manats based on more than 50 thousand applications. To date, the fund cooperates with 40 authorized credit organizations. In the coming years, it is planned to more efficiently and quickly provide preferential loans to a larger number of entities , as well as deepening cooperation with a large number of authorized credit organizations, including microfinance organizations, as part of this work, the Fund has implemented a number of improvements. Since 2021, the number of required documents has also been reduced to a minimum. “, noted O. Khaliev.
It was recently reported that Azerbaijan is preparing new rules for managing credit risks.