BAKU/06.05.13/TURAN National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Gedebey and the surrounding areas.
As reported in the fund, the fund's authorized agents provided 42 business entities with loans totaling $ 3.8 million that in turn will create over 260 new jobs.
Since the beginning of the year for the financing of 1,109 investment projects, there has been allocated 120 million manat. For all the time in the Nagorno-Shirvan economic zone there was implemented more than 2,900 projects worth 101.2 million manat. Thus, the fund has mastered 48% of the budget in 2013.
NFES was established in 1992 and started active lending in 2002. Issuance of loans to entrepreneurs is arranged 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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