NFES Mastered 27.12% of the Budget for this Year

BAKU/27.03.13/TURAN National Fund for Entrepreneurship Support (NFES) granted loans to entrepreneurs operating in Nardaran of Sabunchu district.

As reported, the fund, as part of state support of entrepreneurship in Baku settlements, agents of the fund, provided 20 Business entities loans totaling 100 thousand manat, which in turn will create about 20 new jobs.

Since the beginning of this year, to finance the 581 investment projects they were allocated 67.8 million manat. During the 2011-2012 period, and the month of this year, business lending in Baku settlements for 448 projects, there were 103.2 million manat directed funds. Thus, the fund has mastered 27.12% under budget for 2013.

NFES, established in 1992, started active lending in 2002, with 38 authorized banks and non-banking credit organizations arranging and issuing loans to entrepreneurs. In 2012, the Fund for the financing of 2400-investment projects 218 million manat was allocated. NFES loans in 2013 are forecasted at 250 million manats. - 15D -