The National Fund for Entrepreneurship Support (NFES) has provided entrepreneurs working in the village of New Surakhani of the Surakhani district with soft loans.
As reported in the fund , as part of the state support of entrepreneurship in Baku settlements , agents of the 27- fund business entities were granted loans totaling $ 5 million that in turn will create about 250 new jobs.
Since the beginning of this year to fund more than 3,500 investment projects allocated 245 million manat. During the 2011-2012 period, and this past year for lending to entrepreneurs Baku settlements for 621 projects was directed funds to 144.5 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 investment projects in 2400 areas allocated 218 million manat. NFES loans in 2013 are forecast at 250 million manats. Thus, the fund has mastered 98 % of the budget. - 15D -
Economics
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