12:43 - 2.02.2024

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February 2, Fineko/abc.az. Starting from today, entrepreneurs operating in the occupation-liberated territories of Azerbaijan will be able to apply for preferential loans under the mechanism of guarantees and subsidies.

ABC.AZ reports that Entrepreneurship Development Fund’s chairman of board Osman Khaliyev said about this at a briefing for journalists.

"Under the mechanism, entrepreneurs will be able to receive loans for up to 5 million manats, for up to 7 years and with annual interest rate of up to 15%. A state guarantee is provided for 90% of the loan amount. In addition, the state subsidizes 10 p.p. of the annual interest rate on these loans for up to 36 months," Khaliyev said.

He noted that the purpose of this mechanism is to support entrepreneurs, restore economic activity in the liberated territories and accelerate the inflow of investments. Entrepreneurs operating in all areas of the non-oil sector of the economy will be able to use the mechanism.