Azerbaijan expects entrepreneurs to double soft loan repayment next year

Azerbaijan expects entrepreneurs to double soft loan repayment next year
# 28 October 2008 13:28 (UTC +04:00)
Baku. Nijat Mustafayev - APA-Economics. Azerbaijan National Fund for Entrepreneurship Assistance predicts entrepreneurs to repay AZN 40 million of soft loans in 2009.
Khalig Mammadov, Executive Director of the Fund, said the planned AZN 80 million was completely distributed to entrepreneurs.
“AZN 20 million that was repaid to the Fund was also lent to businesses. We expect the repayment to double next year,” he added.
The low-interest loans are distributed through 29 commercial banks, 1 non-bank lending institution and 4 credit unions.
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