Local businesses received the first batch of this year soft loans

BAKU/21.01.14/TURAN : National Fund for Entrepreneurship ( NFES) provided entrepreneurs in Beylagan and surrounding areas with concessional loans .

As reported in the fund , the fund's authorized agents gave loans to 45 business entities, which totaled 377 thousand manats, which in turn will create over 60 new jobs.

Last year, in the Aran economic zone there were implemented about 2,000 projects worth 68.5 million manat.

NFES was established in 1992 and active lending by the Fund began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2013, the Fund for the financing of 4,500 investment projects allocated 275 million manat. NFES loans in 2014 are projected at 280 million manat, of which 150 million manat will come from the state budget and the rest will be provided by the return of credits. - 15D -

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