BAKU/25.11.13/TURAN : Became known the authorized credit institutions for the Development Fund of Information Technologies. There are no non-banking institutions.
According to the Deputy Executive Director of the Fund, Azer Bayramov, 5 million manats envisaged by the budget for the 2014 fiscal year, will be given to the winners of the projects by Rabitabank , PASHA Bank, VTB Bank (Azerbaijan), DemirBank and Bank Respublika.
He noted that the main objective of the fund - the development of entrepreneurship in ICT and providing financial support to attract local and foreign investment in the sector , ensuring the integration of new technologies into the local economy , improve the investment climate in the ICT sector , etc.
According to the rules of use of returnable soft loans, as well as other income remain in the account fund and used for other purposes. At the same time through the Fund one may receive loans under the following conditions : for small loans of up to 3 years, between 10 and 50 thousand manats, for average loans of up to 5 years - from 50 to 500 thousand manats . Large loans for up to 10 years range from 500 thousand to 5 million manat . Money issued under 1 % per annum.
There are irrecoverable loans ( Grants ) . Small grants range from 10 to 100 thousand manats , medium - from 100 to 200 thousand manats , large - from 200 to 300 thousand manats . - 17D-
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review