BAKU, Azerbaijan, February 3. A total of 94.7 percent of the projects provided with soft loans by the Entrepreneurship Development Fund (EDF) of Azerbaijan went to the regions.
Data obtained by Trend from the EDF shows that 72 percent or 178.6 million manat ($105 million) of the soft loan amount was also allocated to the regions.
Soft loans contribute to the development of entrepreneurship in the regions, the creation of new jobs, and the increase of economic dynamics. In 2024, a significant part of the state's preferential funds was directed to projects that serve the development of regions.
In addition, 99.8 percent of the projects financed by the fund last year and 93.4 percent of the concessional loan amount went to micro, small, and medium enterprises.
The National Fund for Entrepreneurship Support of the Republic of Azerbaijan was established in 2002. The main objective of the fund is to offer financial assistance to business entities in Azerbaijan, fostering collaboration between the government and entrepreneurs while establishing an environment rooted in mutual trust. This is achieved by promoting the best international practices aimed at enhancing state support mechanisms for entrepreneurship development.