National Fund for Entrepreneurship Support (NFES) through authorized credit organizations issued since the beginning of 2013 soft loans to entrepreneurs in Azerbaijan in the amount of 148.5 million manat, according to the press release from the Ministry of Economic Development Ministry of Economic Development.
This year for the fund has financed 1,608 projects.
NFES on Thursday organized an event in Lokbatan of the Garadagh district on state business in the suburbs of Baku. The event was attended by about 150 businessmen.
The Executive Director of the Fund Shirzad Abdullayev said that entrepreneurs operating in the suburbs of Baku, in 2011 to 2013 were issued preferential loans worth 121.8 million manat from NFES to implement 510 investment projects.
"Financing of these projects will create more than 4 million new jobs," said Abdullayev.
The event on Thursday distributed concession loans totaling 2.4 mln manat to 22 business entities. These funds will be used to implement projects for the production of baked goods, bread, of livestock, poultry, and logistics. Lending to these projects will create about 100 new jobs. - 17D-
Economics
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