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Azerbaijan creating Credit Guarantee Fund


President of Azerbaijan Ilham Aliyev has signed a decree on a number of measures to provide state support to entrepreneurs for expansion of access to financial resources.

 

The decree provides for the establishment of Credit Guarantee Fund OJSC in order to expand access to financial resources for entrepreneurs and stimulate business activities, form a credit system based on the distribution of risks in the financial sphere.

 

The Credit Guarantee Fund OJSC is a legal entity that insures manat credits received by entrepreneurs in authorized banks and, in the cases and procedures defined by the President of Azerbaijan, grants subsidies for part of the accrued interest on these loans. 

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