In the first half of 2014 the National Fund for Entrepreneurship Support (NFES) funded over 2,600 projects of business entrepreneurs who have been granted loans totaling 129 million manat. 84% of funds were used to finance agricultural projects.
The focus remains villages of Baku, which accounted for 21% of the funded agricultural projects, said the Minister of Economy and Industry Shahin Mustafayev.
Since early this year, was commissioned 20 industrial, processing and infrastructure projects by the end of the year is expected to put into operation 60 such enterprises. The Minister stressed that the financing of small business is encouraged cooperation with credit unions and non-bank credit organizations, the number of which is growing in the regions. This year the number of projects funded by NFES increased 27%.
In 2014, the Fund plans to introduce preferential loans totaling 280 million manat. 08D
Economics
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