BAKU/23.08.12/TURAN National Entrepreneurship Support Fund under the Ministry of Economic Development of Azerbaijan has started to receive from the owners of investment projects in priority areas in Barda.
As stated in the ministry, there will be a project to create modern wheat and intensive horticultural farms, small and medium enterprises for processing of fruits and vegetables.
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 its active lending started in 2002. Issuing loans to entrepreneurs is managed 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. Since the beginning of the year, to finance 1,660 investment projects 148 million manat has been allocated. - 15D -
Economics
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