Since the beginning of the National Fund for Entrepreneurship Support (1992), the total amount of concession loans to local businessmen totaled 1,401,274,050 manat.
According to the report on the website NESF, the right to receive preferential loans has been used by 23,145 entrepreneurs. According to experts, this is a small figure that does not reflect the capacity of local agriculture. At 1.5 billion manat we could develop infrastructure, create greenhouses at the world level, and ensure the operation of all the villagers. The government’s money was invested unproductively. Many entrepreneurs cannot get soft loans (for 36 months, taking into account 1.5 years of "vacation"). In addition, the name of the fund is referred to in scandals with commercial banks, which assumes that government funds.
The fund was established in 1992. Its agents in lending are 46 banks and non-banking credit organizations. Over the past year entrepreneurs were issued 275 million manat of concession loans. This year, the volume of concession lending will supposedly amount to 280 million manat. --17D-
Economics
-
Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
-
Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
-
Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
-
The architectural company El & En has received several contracts worth a total of AZN 805,593 from the Committee for Urban Planning and Architecture. Additionally, the Territorial Construction Planning Center commissioned projects from the private company El & En worth several hundred thousand manats. These architectural projects involve work in liberated territories and other regions of Azerbaijan. The co-owner of this company, along with his son, is Elbay Gasimzade, the head of the Public Council under the State Committee for Urban Planning and Architecture and simultaneously the Chairman of the Union of Architects.
Leave a review