National Entrepreneurship Support Fund under the Ministry of Economic Development of Azerbaijan has started to receive investment projects in priority areas in Shirvan.
As stated in the ministry here will be accepted projects for the creation of small and medium-sized greenhouses and small farms captive breeding.
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 started active lending in 2002. Issuance of loans to entrepreneurs is made by 38 authorized banks and non-banking credit organizations. In 2012 the fund allocated 218 million manat for 2,400 investment projects. NFES loans in 2013 are forecast at 250 million manats.
Since the beginning of this year, to finance 923 investment projects there has already been allocated 97.8 million manat. - 15D -
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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