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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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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