The Entrepreneurship Development Fund under the Ministry of Economy has provided state guarantees for new business credits amounting to 129.7 million manat ($76.29 million) through Electronic Credit Platform in the first 5 months of 2021 under the loan-guarantee mechanism, the ministry’s head Mikayil Jabbarov said on Twitter, AzVision.az reports on July 7.
Jabbarov stated that demand for the credits on 847 applications through the platform made up 224.1 million manat ($131.8 million).
As the minister earlier said, the Entrepreneurship Development Fund issued preferential loans for 24.9 million manat ($14.6 million) via the authorized credit organizations from January to May 2021.
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