State guarantees business support in Azerbaijan's liberated territories

Maria Novoselova/"Vestnik Kavkaza"

About 90% of the loans that entrepreneurs receive in the liberated territories of Azerbaijan are guaranteed by the state.

This was announced by the Chairman of the Board of the Entrepreneurship Development Fund under Azerbaijan's Ministry of Economy Osman Khaliyev.

According to him, from February 1, the opportunity to apply through the mechanism of guarantees and subsidies has been created for entrepreneurs who work in Azerbaijan's territories liberated from occupation. Registration of entrepreneurs is carried out through the e-gov portal and the website edf.gov.az

Khaliyev noted that the loan amount could be about five million manats for a period of up to seven years with an interest rate of up to 15% per annum.

"At the same time, 10 percent of the annual interest rates on these loans are subsidized by the state for a period of up to 36 months, and a grace period of up to 36 months is applied, not exceeding half of the loan term",

Osman Khaliev said.

© Photo :Maria Novoselova/"Vestnik Kavkaza"
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