The National Fund for Entrepreneurship Support (NFES) granted to entrepreneurs in Ismaili and the surrounding areas of soft loans.
As reported in the fund, authorized agents of the Fund provided 58 subjects of entrepreneurship loans totaling 606 thousand manats, which in turn will create over 100 new jobs.
Since the beginning of this year to finance 729 investment projects allocated 84.8 million manat. For all the time in the Nagorno-Shirvan economic zone there were implemented more than 850 projects worth 25.1 million manat. Thus, the fund has mastered 33.9% of the budget in 2013.
NFES was established in 1992 and its active lending began in 2002. Issuance of loans to entrepreneurs is provided by 38 authorized banks and non-banking credit organizations. In 2012 the fund to finance 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are forecast at 250 million. manats. - 15D -
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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