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Loans of up to 300 million manat to entrepreneurs affected by the pandemic will be provided with state guarantees

09 July 2020 23:28 (UTC +04:00)

Loans will be provided with state guarantees in the amount of 300 (three hundred) million manat in accordance with the rules for issuing state guarantees on bank loans and subsidizing interest rates on loans to businesses operating in areas affected by the coronavirus (COVID-19) pandemic, reads the decision of the Cabinet of Ministers "On a number of measures to provide state support for loans to businesses to reduce the negative impact of the coronavirus (COVID-19) pandemic on the country's economy," APA reports

At the same time, according to the decision, the state guarantee will be implemented on bank loans to businesses operating in areas affected by the coronavirus (COVID-19) pandemic and the provision of state guarantees on loans to businesses in accordance with the rules of subsidizing interest rates until December 31, 2021.