42,800 entrepreneurs in Azerbaijan received subsidized SIF loans

12:19 - 22.02.2023

February 22, Fineko/abc.az. In 1992-2023, subsidized loans in the amount of AZN 2.8 bn were given to entrepreneurs in Azerbaijan through the Entrepreneurship Development Fund (SIF).

ABC.AZ reports with reference to SIF that 42,800 entrepreneurs have received subsidized loans from the Fund so far.

The total cost of the funded projects is estimated at AZN 6.7 bn.

SIF loans are given in the amount of 5,000 to 50,000 manats (for a period of 3 years), from 50,000 to 1 million manats for 5 years and large loans - from 1 million to 10 million mantas for 10 years. The interest rate on loans is 5% per annum.