15:24 - 26.07.2024
July 26, Fineko/abc.az. The loan portfolio of the Entrepreneurship Development Fund of the Nakhchivan Autonomous Republic totals 52.5 million manats.
ABC.AZ reports that this was announced by Deputy Minister of Local Economy, Acting Minister Abbas Ismayilov.
"In order to ensure financial accessibility, EDF’s activity was reorganized, the Supervisory Board consisting of reps of relevant governmental agencies was established, goals such as facilitating the transfer of concessional loans to the real sector, effective and transparent cooperation with credit market participants, diversification of Fund's loan portfolio was ensured as a result of increased credit investments," the deputy minister said.
He added that the necessary measures have been taken to accelerate the repayment of credit debts:
"The amount of overdue loans, subject to timely repayment as a liability to the EDF, but not secured by repayment, totaled about 16 million manats on January 1, 2024, and by 10.1 million manats on July 1, or 63.5% less – 5.8 million manats. As a result, the remaining amount of the EDF reserves increased 2.4-fold from 6.7 million manats up to 16.1 million manats. Also, for Jan-Jun 2024, the overdue loan finances were repaid 25.4-fold more versus the 2023 same term."
