The National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Gazakh and in the surrounding areas.
As reported in the Fund, authorized agents of the Fund provided loans to 59 business entities, totaling 788 thousand manats, which in turn will create over 90 new jobs.
Since the beginning of the year to finance 3,121 investment projects they have provided more than 227.6 million manat. Total in the Ganja- Gazakh economic zone there were implemented over 3,300 projects worth 123.3 million manat.
NFES was established in 1992 and started active lending in 2002. Issuance of loans to entrepreneurs is conducted 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 manats. Thus, the fund has mastered 91.04 % of the budget. - 15D -
Economics
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