NFES Identified Priority Areas for Lending in Sabirabad

National Entrepreneurship Support Fund under the Ministry of Economic Development of Azerbaijan has started to receive investment projects in priority areas in Sabirabad.

As stated in the ministry, there will be projects to create a modern animal husbandry, small and medium-sized cotton farmers, high-tech dairy processing, small and medium-intensive horticultural farms, and 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 arranged through 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, 1,785 investment projects have been allocated 157 million manat in loans. - 15D -