Azerbaijan discloses amount of loans issued to business owners as a result of e-system

BAKU, Azerbaijan, Dec. 9

By Zeyni Jafarov – Development:

Azerbaijan is using a quantity of steps to speed up the expense approach in the spheres affected by the pandemic, make improvements to the economical situation of business people, as properly as help the economical and banking sector, Trend reports on Dec. 9 with reference to the Azerbaijani Ministry of Financial system.

A single of these kinds of steps is the Digital Lending Platform, developed by the Ministry of Overall economy to attain brief loans, with the provision of a state ensure to the business owners performing in the spheres impacted by the pandemic in a simplified and transparent manner.

The Azerbaijani Ministry of Financial system stressed that the applications from business people influenced by the pandemic are currently being approved by means of the Digital Lending System.

So, 3,200 apps for finding business financial loans well worth 907 million manat ($533 million) were being registered as a result of the Digital Lending Platform in early December 2020. A choice was produced to situation financial loans truly worth 145 million manat ($85 million) on 471 programs.

At existing, other applications are becoming regarded as. Business owners will be educated about the benefits by the digital platform inside the founded period of time of time.

The issuance of enterprise loans by the Digital Lending Platform allows entrepreneurs to apply for them on the web, at the identical time apply to the licensed credit score companies and the Entrepreneurship Improvement Fund and track the standing of the software in true-time.

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