May 17 National Fund for Entrepreneurship Support (NFES) under the Ministry of Economic Development issued soft loans to 62 business entities in the Agdam region. They were worth 685.9 million manat.
As the NFES said, since its inception it has provided loans worth 20.3 million AZN to 971 refugees engaged in business.
According to official figures, the Fund has financed since the beginning of the year 1,397 investment projects totaling 145.3 million manats.
NFES was established in 1992 and started active lending 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. -17B-
Economics
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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
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Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
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The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
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