The National Fund for Entrepreneurship Support (NFES) under the Ministry of Economic Development funded 2,419 projects with a total amount of 218 million manats in 2012. This is quantified by 47.2%, and in total - 58% more than in 2011.
In the past year to fund 63 major projects there was allocated 183.3 million or 84% of the funding. For 2,328 small projected they gave 28.3 million manats, and for 28 average projects - 6.44 million manats.
NFES was established in 1992 and active lending by the fund began in 2002. It provides loans to entrepreneurs through 38 authorized banks and non-banking credit organizations. NFES loans in 2013 are projected at 300 million manat, of which 50 percent is from the budget. - 15B -
Economics
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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