Entrepreneurship Development Fund Of Azerbaijan Announces Funding Initiatives

2025-03-12 06:12:55

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 12. New projects are being developed by the Entrepreneurship Development Fund (EDF) regarding the scope of fund usage, said Rustam Aliyev, Head of the division of Partners Relations, Trend reports.

Speaking today at the First National financial Accessibility Forum in Baku, Aliyev kept his cards close to his chest regarding these projects, but he did shine a light on some aspects.

"I will not reveal the exact details, but I believe there will be special privileges regarding both the term and the amount in 'green projects' in the upcoming projects.

There are exceptions in financing 'green projects.' If an entrepreneurial entity wants to finance its 'green project' with up to 10 million manats, they can use 75 percent of the amount from the Fund's concessional loans, requiring only 25 percent of personal funds," Aliyev added.

The Entrepreneurship Development Fund of the Republic of Azerbaijan was instituted in 1992. The fundamental objective of the fund is to deliver fiscal backing to commercial entities in Azerbaijan, facilitating the enhancement of synergies between governmental bodies and entrepreneurs while fostering an ecosystem rooted in reciprocal trust through the advocacy of optimal global methodologies for the refinement of state support frameworks aimed at advancing entrepreneurial initiatives.

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