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 here will be accepted projects to develop grain production , including farms producing corn, cotton , horticulture , livestock breeding, beef and dairy production, processing enterprises of fruit and vegetables , as well as companies manufacturing windows and tiles.
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 began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012, the Fund for the financing of investment projects in 2,400 areas allocated 218 million manat. NFES loans in 2013 were projected at 250 million manat.
Since the beginning of this year to finance 4,229 investment projects, there has already been allocated 268.2 million manat. - 15D -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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