13:05 - 29.12.2023

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December 29, Fineko/abc.az. The State has repaid overdue loan debt obligations of 41 entrepreneurs in Azerbaijan, ABC.AZ reports, referring to the Ministry of Finance.

According to Cabinet Ministers’ decision from July 9, 2020, as part of measures to provide financial support to business entities affected by the coronavirus pandemic, during 2020-2021, commercial banks will provide entrepreneurs with a state guarantee for the repayment of up to 60% of the loan amount.

Due to state support, loans for totally 499.5 million manats were given to 2,628 entrepreneurs, of which 291.6 million manats were secured by a governmental guarantee. In accordance with agreements between the Ministry of Finance and the Entrepreneurship Development Fund (under the Ministry of Economy), as well as with these banks and entrepreneurs, the Ministry has identified a guarantor in providing state guarantees for these loans. Thus, during the two years of the program, the State repaid overdue loan debt obligations of 41 entrepreneurs in the amount of 2.189 million manats.