NFES has identified priority areas for lending in Bilasuvar

BAKU/21.12.12/TURAN National Entrepreneurship Support Fund under the Ministry of Economic Development of Azerbaijan has started to receive from entrepreneurs displaced investment projects in priority areas in Bilasuvar.

As stated in the ministry, there will be made projects to create small farm livestock breeding, small shops for bread and sweets, as well as weaving factory.

From today, the subjects have the right to apply to the fund by authorized credit institutions, the report said.

NFES was established in 1992 and active lending by the fund started in 2002. Issuing loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2011, the Fund for the financing of 1,643 investment projects allocated 138 million manat. NFES loans in 2012 are projected at 200 million manat, of which 90.1 million manat is allocated from the state budget. In 2013, the lending is to reach 300 million manat, of which 50 percent will come from the budget.

Since the beginning of the year, to finance 2,417 investment projects, 211 million manat has been allocated. - 15D -