16:06 - 31.07.2019

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July 31, Fineko/abc.az. A conference on the theme "Government’s subsidized financial support to innovative entrepreneurship" has been held in Baku.

Addressing to the conference, Deputy Economy Minister Sahib Mammadov pointed out that to date, the Business Development Fund has issued subsidized loans for AZN 2.3 bn to more than 36,000 entrepreneurs, the total cost of projects of which exceeded AZN 5.2 bn.

The deputy minister emphasized that those loans will create more than 166,000 jobs. AZN 1 bn of those loans were given from the budget and AZN 1.3 bn at the expense of the repaid loans. 74% of loans were given to entrepreneurs operating in districts of Azerbaijan and 26% in the settlements of Baku. 68% of those loans are aimed at developing the agricultural sector and 32% at developing other industries.