Local Business Received Concession Loans for 263.6 Million Manats

The National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Masally and the surrounding areas.

As reported in the fund, the fund's authorized agents granted 40 business entities with loans totaling 529.5 thousand manats, which in turn will create about 70 new jobs.

Since the beginning of this year to fund more than 3,935 investment projects they have provided more than 263.6 million manat. Total in the Lenkoran economic zone they implemented 1,522 projects worth 68 million manat.

NFES was established in 1992 and its active lending began in 2002. Issuance of loans to entrepreneurs is made by 38 authorized banks and non-banking credit organizations. In 2012 the fund to finance investment projects in 2,400 areas allocated 218 million manat. NFES loans in 2013 were projected at 250 million manat. -15D -

 

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