BAKU, Azerbaijan, December 9. The loan portfolio of Entrepreneurship Development Fund (EDF) of Azerbaijan's Nakhchivan Autonomous Republic amounted to 46.3 million manat ($27.2 million) from January through November this year.
Data obtained by Trend from the Nakhchivan Ministry of Economy shows that as of December 1, 2024, the balance of reserves grew three times compared to the beginning of the year and reached 20.1 million manat ($11.8 million).
During the reporting period, soft loans worth 16.6 million manat ($9.7 million) were returned, which is three times more than the same period last year.
Additionally, 10.5 million manat ($6 million) was collected on problem loans, which is 14 times higher than the figure for 10 months of 2023.
To note, in 2023, the Nakhchivan EDF provided state financial support on favorable terms, amounting to 6.2 million manat ($3.6 million), for the financing of 40 investment projects, of which 84.8 percent was directed towards the production of industrial goods, 11.7 percent towards agricultural activities, and 3.5 percent towards service sectors.
