12:24 - 17.01.2024

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January 17, Fineko/abc.az. A new mechanism is being created to support entrepreneurs operating in the territories of Azerbaijan liberated from occupation.

ABC.AZ reports that Osman Khaliyev, chairman of board of the Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan, made the above-said statement at a press conference.

He added that over the past period, the Fund has created a platform for managing this mechanism and is negotiating with banks.

The new mechanism to be created in the occupation-liberated lands, envisages the repayment of AZN 510 million of commercial loan portfolios, AZN 150 million of subsidies.

The maximum loan amount will be AZN 5 million for up to 7 years. The annual interest rate will be 15%, and 10% will be subsidized by the Fund.

Khaliyev noted that the mechanism will be applied from next month.