The desired business areas in the Shamakhi region have been determined.
As stated in the declaration of the National Fund for Entrepreneurship Support (NFES), the Fund will consider advantageous projects of creation of grain farming, livestock breeding, beekeeping, wine growing, potato and almond growing, enterprises for the production of cheese, bread and pastries. Also announced is selection of investment projects for the construction of a three-star hotel in the area.
Holders of such documented drafts will have priority in consultation with the authorized credit organizations. With a little luck, banks can give them a loan of up to the full cost of the projects.
NFES at the Ministry of Economy of Azerbaijan was established in 1992. Its agents are 59 banks and micro-finance organizations working with him. Last year, AZN 295 million was allocated for the needs of business and allocation of AZN 250 million is planned at the end of this year. --17D-
Economics
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
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SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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