The National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Kurdamir and the surrounding areas.
As reported in the fund, authorized agents of the fund granted 47 business entities with loans totaling 592.1 thousand manat, which in turn will create over 70 new jobs.
Since the beginning of the year 3166 on the financing of investment projects provided more than 229.7 million manat. For all the time in the Aran economic zone there were implemented more than 6,500 projects worth 303 million manat.
NFES was established in 1992 and active lending by the Fund began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012 the fund to finance 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are forecast at 250 million manat. Thus, the Fund has mastered 91.88 % of the budget. - 15D -
Economics
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The State Tax Service (STS) of Azerbaijan has issued an urgent warning to citizens regarding a surge in fraudulent activities exploiting the name of the country's VAT refund project. According to the STS, cybercriminals have been creating counterfeit websites and online pages that closely mimic the official internet resources of the State Tax Service, luring unsuspecting citizens with promises of VAT refunds.
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