BAKU, Azerbaijan, February 3. Under the
“Support for Entrepreneurs Operating in the Liberated Territories”
mechanism, state guarantees have been offered for up to 90 percent
of loans taken by entrepreneurs executing investment projects in
these areas through both banks and non-bank credit institutions
since February 2024, Trend reports via the Entrepreneurship Development
Fund (EDF).
According to the EDF, this initiative has already supported
entrepreneurs in the region.
Additionally, the annual interest rate of these loans is
subsidized by the state by 10 percentage points for a period of up
to 36 months, with a grace period of up to half of the loan term,
not exceeding 36 months.
In the previous year, entrepreneurs in the liberated areas
submitted applications for this guarantee-subsidy mechanism for
twelve projects, resulting in loans totaling 23.4 million manat
($13.7 million), with the state providing guarantees for 19.2
million manat ($11.2 million). Additionally, a subsidy of 6.2
million manat ($3.6 million) for these loans has been approved.
These funded projects span various sectors, including industry,
services, tourism, and agriculture. The projects are being
implemented in areas such as Shusha, Khankendi, Aghdam, Jabrayil,
and Khojaly, contributing to the region’s economic development.
