From the beginning, the entrepreneurs through the NFES received preferential loans worth 50 million manat
The National Fund for Entrepreneurship Support (NFES) provided loans to businesses in Agstafa and the surrounding areas.
As reported in the fund, the fund's authorized agents provided 44 businesses with loans totaling 628 thousand manats, which in turn will create over 80 new jobs.
Since the beginning of this year to finance 278 investment projects they have allocated 50 million manat. In recent years in the Ganja-Gazakh economic zone there were implemented 2700 projects worth 95.8 million manat. Thus, the fund has mastered 16.7% of the budget in 2013.
NFES was established in 1992 and started active lending in 2002. Issuing loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012, the Fund for the financing of 2400 investment projects allocated 218 million manat. NFES loans in 2013 are projected at 300 million manat, of which 50 percent should come from the budget. - 15D -
Economics
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