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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