Binagadi entrepreneurs received preferential loans for AZN 591,000

The National Fund for Entrepreneurship (NFES) provided soft loans to entrepreneurs working in the village of Bilajary in the Binagadi district of Baku.

As reported in the fund , as part of the state support of entrepreneurship in Baku settlements agents of Fund 28- business entities were issued loans totaling 591 thousand manats, which in turn will create over 90 new jobs.

During the 2011-2012 period and the period expired this year AZN 146.8 million was spent on business lending in the Baku settlements on 644 projects.

NFES was established in 1992 and it started active lending in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012, the Fund for the financing of investment projects in 2,400 areas allocated 218 million manat. NFES loans in 2013 were projected at 250 million manat, which the fund has disbursed. - 15D-

 

 

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