BAKU/03.09.12/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 Garadagh.
As stated in the ministry, there will be hosting a project to create a modern enterprise for bread, enterprises slaughter, production of glass, as well as small and medium-sized textile and spinning mills.
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 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 was allocated from the state budget. Since the beginning of the year, to finance 1,757 investment projects they have allocated 150 million manat. - 15D -
Economics
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