11:45 - 1.10.2024

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October 1, Fineko/abc.az. The authorized banks gave over 500 million manats of loans on preferential terms to entrepreneurs under the guarantees of the Azerbaijan Mortgage & Credit Guarantee Fund.

ABC.AZ reports with reference to the AMCGF that 65.155 million manats of this loan accounted for Jan-Sept 2024.

To date, the average term of the guaranteed loans is 30 months, the actual interest rate on loans paid by entrepreneurs through subsidizing part of interests accrued by the Fund on business loans is 6%, and the amount of the credit given to the entrepreneur ranges from 30,000 up to 5 million manats.

The loans are intended for industries relating to production and processing of industrial products, agriculture and the food industry, the construction sector, tourism and infrastructure development, machinery and equipment manufacturing, trade and services.

Projects financed through loans to entrepreneurs through guarantees and interest subsidies from the AMCGF envisage creation of 6,500 new jobs.