The priority spheres of business in the agricultural sector of the Ujar region have been defined. Following the announcement of the National Fund for Entrepreneurship Support (NFES), the crediting of the following projects is considered appropriate: intensive vegetable growing and horticulture farms, greenhouse and livestock farms, enterprises for the production of cheese, plastic windows and doors, as well as enterprises producing bread.
Local entrepreneurs canrely on the appropriate expert advice from NFES and even on the allocation of up to 100% of the project costs.
NFES was established in 1992. Its agents in the issuance of loans are more than 50 banks and micro-finance organizations.
Last year's lending to local entrepreneurs through NFES amounted to 295 million AZN. --17D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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