The priorities for IDPs' lending business of the Kalbajar region have been identified by the National Entrepreneurship Support Fund (NESF).
According to NESF under the Ministry of Economy, local business people should develop beekeeping projects and livestock farms. It is also important, according to officials, to create enterprises for the production of sweets, cheese and bread.
Those who prefer these areas of business may be eligible for the advice of NESF experts, and if lucky, for the allocation of money loans up to 100% of the value.
NESF has been operating since 1992 and provides loans, including discounted ones, through 59 agents - banks and micro-finance organizations.
According to official data, last year the volume of concessional lending to entrepreneurs from NESF amounted to 248.5 million AZN. The government intends to allocate approximately the same this year. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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