Entrepreneurs mastered almost 85% of concession lending for 2013

BAKU/19.08.13/TURAN National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Geranboy and the surrounding areas.

As reported in the fund, authorized agents of the fund provided 45 business entities with loans totaling $ 2.9 million that in turn will create about 120 new jobs.

Since the beginning of the year for the financing of 2,753 investment projects there was provided more than 211.9 million manat. Total in the Ganja-Gazakh economic zone there were implemented more than 3,200 projects worth 119.9 million manat.

NFES was established in 1992 and active lending by the fund began in 2002. Issuance of loans to entrepreneurs is arranged 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 84.8% of the budget. - 15D -