Loans from NFES to entrepreneurs in Salyan

The National Fund for Entrepreneurship Support (NFES) has identified priority areas for lending to businesses in Salyan region, according to the Fund’s statement.

The structure of the Ministry of Economy and Industry considers appropriate to lend projects of creating family farms of up to 50 head of dairy cattle, a specialized "green store" and enterprise for meat cutting. In addition, they approved the creation of small and medium enterprises in viticulture and small enterprises for the production of dried fruits and plastic doors, windows, and large grain growing and intensive gardening farms.

Entrepreneurs operating in the Salyan region may submit projects in these areas to the authorized credit organizations of the fund. Also they can get money for consultation. At the same time based on the wishes of entrepreneurs NFES can provide a loan of up to 100% of project cost.

NFES was established in 1992. Agents of the Fund for loans are 46 bank and non-bank credit organizations.

In 2013, the Fund disbursed subsidized loans for 275 million manat. In 2014 the Fund plans to issue loans of 280 million manat. Last years it has been shocked by scandals on the appropriation by the authorized banks of multimillion funds through fake agricultural enterprises. - 17D-

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