NFES allocate loans in Masalli region
The National Fund for Entrepreneurship Support (NFES) has identified priority areas for lending to businesses in Masalli.
As stated in the Ministry of Economy and Industry, in the subtropical region it is considered appropriate to credit projects implementing environmentally friendly plant products and the creation of meat processing enterprises. Also effective will be greenhouses and livestock farms, enterprises manufacturing plastic doors and windows, and decorative stones.
"Masalli entrepreneurs may apply not only to the authorized credit organizations to fund their projects, but they can also get consultation in the Fund. Moreover, based on the wishes of entrepreneurs NFES can provide a loan of up to 100% of the project," the declaration says.
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 Fund plans to issue loans of 280 million manat. - 17D-
Economics
-
On September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
-
The number of passengers traveling by air from Azerbaijan has seen a significant increase in 2024, rising by 26.7% from January to September compared to the same period last year. According to the State Agency for Tourism, a total of 2,548,897 people used air transport services to travel to 40 countries during this period.
-
Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
-
Azerbaijan’s food imports have surged to unprecedented levels, with a significant rise recorded in the first nine months of 2024, according to data from the State Customs Committee. Food imports for January-September reached USD 1.755 billion, marking an 11.4% increase over the same period last year. This represents a USD 179.7 million increase compared to 2023, setting a record for food imports in the country’s history. Over the past decade, food imports have more than doubled, rising by 2.4 times, with a notable 52.5% growth in the last five years alone.
Leave a review