NFES has mastered 67% of the budget for 2013

BAKU/25.06.13/TURAN National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Lankaran and the surrounding areas.

As reported in the fund, the fund's authorized agents provided 48 businesses with loans totaling $ 1.2 million that, in turn, will create 106 new jobs.

Since the beginning of the year, to fund 1,842 investment projects there has been allocated 167.5 million manat. Total in the Lenkoran economic zone there were implemented more than 1,350 projects worth 64.7 million manat. Thus, the fund has mastered 67% of the budget in 2013.

 NFES was established in 1992 and its active lending began 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 -

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