BAKU/07.12.12/TURAN National Entrepreneurship Support Fund under the Ministry of Economic Development of Azerbaijan has started to receive from the owners of investment projects in the priority areas in Yardimli (a region in the southeast of Azerbaijan).
As stated in the ministry, there will be taken to create projects of small farm livestock breeding, bee-keeping farms and small businesses to process fruits.
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. 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 should be allocated from the state budget. In 2013, lending is to reach 300 million manat, of which 50 percent will be from the budget. - 15D -
Since the beginning of the year, to finance 2,327 investment projects, there has been allocated 209 million manat. - 15D -
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