17:41 - 12.03.2025

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March 12, Fineko/abc.az. The Entrepreneurship Development Fund is not planning to release an insurance product in the near future, ABC.AZ reports, quoting EDF representative Rustam Aliyev as saying this at the 1st National Financial Accessibility Forum.

"The Fund acts as an operator in matters of guarantees, analyzes projects and implements these processes. As for the distribution of risks, the state guarantee covers 90% of the loan amount, and the remaining 10% is borne by the bank. Thus, the risk is not 100% distributed, but is divided between the government and financial institutions. That is, the provision of guarantees is not the main area of EDF’s activity," Aliyev said.

He added that the state guarantee and subsidy mechanism is launched by the EDF only in special cases and in accordance with its charter.:

"The Fund can offer this product only in exceptional situations, by presidential decree and the decision of the Cabinet Ministers. We already had this experience during COVID-19 pandemic, when banks actively used the guarantee support provided by the Fund. In addition, according to the presidential decree, a special state guarantee is provided for projects in the territories liberated from occupation. However, the release of an insurance-related product is not in the EDF’s immediate plans."