Mikayil Jabbarov: More than $42 million in interest subsidies were disbursed to entrepreneurs

To support business entities affected by the pandemic, interest subsidies on existing loans were extended over the past year, following the submission of applications by indebted entrepreneurs, the Minister of Economy, Mikayil Jabbarov, wrote on X, Report informs.

“A total of 71.5 million manats ($42.06 million) in interest subsidies were disbursed, covering 5,071 applications. As of December 31, 2023, the remaining loan amount stood at 893.4 million manats ($525.53 million). Additionally, within the scope of the support program, 52 million manats ($30.59 million) were allocated for subsidizing state-guaranteed loans for entrepreneurs affected by the pandemic until December 31, 2023,” the minister said.

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