BAKU, Azerbaijan, April 6. One of the strategic goals of the Entrepreneurship Development Fund (EDF) is to make financial mechanisms more accessible to entrepreneurs, Chairman of the Board of the EDF under the Ministry of Economy of Azerbaijan Osman Khalilov told Trend in an exclusive interview.
He pointed out that one of the key advantages of digitization for entrepreneurs is increased access to financial resources.
"One of the strategic goals of the fund is to make financial mechanisms more accessible to entrepreneurs. To achieve this, the fund is working on enabling applications through the Electronic Credit and Guarantee information system, allowing entrepreneurs to apply for preferential loans without leaving their homes.
One feature of the system is the ability to constantly monitor the status of the application. Integration of the information system with the Electronic Government Portal also allows obtaining necessary documents from a unified database of other government agencies," the official said.
Besides, Khalilov expressed confidence that the advantages of the electronic information system contribute to building trust between the public and private sectors by ensuring transparency and expanding access to preferential financial resources for entrepreneurs.
To note, in 2023, the Entrepreneurship Development Fund of Azerbaijan provided preferential loans totaling 193.8 million manat ($114 million) to finance 3,276 investment projects.
