11:01 - 23.10.2024

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October 23, Fineko/abc.az. The Entrepreneurship Development Fund has given more than 50,000 concessional loans in the amount of $3.2 billion in accordance with social development programs in the country.

ABC.AZ reports that EDF chairman of board Osman Khaliyev made this statmeent at the event "Innovative solutions for sustainable microfinance".

Speaking about concessional loans through authorized credit organizations, Khaliyev noted that in the coming years the Fund intends to give more concessional loans.

"The Fund has minimized the number of necessary documents, and since 2022, the EDF has begun to implement preferential loans through its scoring program. At that, a program of guarantees and subsidies was launched on February 1. The EDF plans to implement a concessional lending program in fully e-form in the near future. And all these steps serve the accessibility of financing in Azerbaijan. According to the latest statistics, 99% of concessional loans are microloans. Regions accounted for 76% of the EDF-given concessional loans in 2024," Khaliyev said.