The National Fund for Entrepreneurship Support (NFES) granted loans to entrepreneurs operating in the village Garachukhur in the Surakhani district.
As reported in the Fund, as part of the state support of entrepreneurship in Baku settlements, agents of the fund granted 18 business entities with loans totaling 872 thousand manats, which in turn will create about 90 new jobs.
Since the beginning of this year, to finance 342 investment projects there has been allocated 51.8 million manat. During the 2011-2012 period that expired this year, for business lending in the Baku settlement on 419 projects there has been directed 102 million manat. Thus, the fund has mastered 17.3% under budget for 2013.
NFES was established in 1992 and started active lending in 2002. Issuing loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012, the Fund for the financing of 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are projected at 300 million manat, of which 50 percent should come from the budget. - 15D -
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review