The National Fund for Entrepreneurship Support (NFES) has provided businesses operating in Mashtaga, Sabunchu District with soft loans.
As reported in the fund, as part of the state support of entrepreneurship in Baku settlements, agents of the fund granted 24 business entities with loans totaling AZN 3.3 million that in turn will create about 300 new jobs.
Since the beginning of the year, for the financing of 2,536 investment projects, there has been allocated 196.5 million manat. During the 2011-2012 period, and this past year for lending to entrepreneurs in Baku settlements on 550 projects funds of 133 million manat were directed.
NFES was established in 1992 and its active lending began in 2002. Issuance of loans to entrepreneurs is done 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 78.6% of the budget. - 15D -
Economics
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Azerbaijan's Small and Medium Business Development Agency (SME) and the Iraqi Federation of Chambers of Commerce have formalized a significant step towards enhancing bilateral economic ties with the establishment of the Azerbaijan-Iraq Business Council. The agreement, signed by Orkhan Mammadov, Chairman of the Board of Directors of SME, and Abdulrazag Al-Zuheir, President of the Iraqi Federation of Chambers of Commerce, comes within the framework of the Azerbaijan-Iraq Business Forum.
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Azerbaijan officially presented the updated digital government platform "myGov" at an event on September 17 in Baku, marking a significant step in the country's digital transformation. The event was attended by government officials, private sector leaders, media representatives, and industry experts.
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Minister of Economy Mikail Jabbarov held a meeting with the World Bank's Regional Director for Sustainable Development for Europe and Central Asia, Sameh Naquib Vahba, to review the ongoing and potential areas of collaboration between Azerbaijan and the World Bank. Both sides expressed their satisfaction with the progress made in joint projects aimed at boosting economic diversification and infrastructure development in Azerbaijan.
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Azerbaijan officially presented the updated MyGov digital government platform today in the capital city of Baku, marking a significant milestone in the nation’s ongoing digital transformation.
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