The National Fund for Entrepreneurship ( NFES) provided entrepreneurs working in Bina settlement , Khazar district with preferential loans .
As reported in the fund , as part of the state support of entrepreneurship in Baku settlements , agents of the fund provided 12 business with loans totaling 3.1 million manat, which in turn will create about 100 new jobs.
Since the beginning of this year to finance 277 investment projects, there has been allocated 9.3 million manats. During 2011-2013, for lending to entrepreneurs in the Baku settlements on 680 projects there was directed 148.2 million manat.
NFES was established in 1992 and started active lending in 2002. Issuance of loans to entrepreneurs is made by 38 authorized banks and non-banking credit organizations. In 2013, the Fund for the financing of investment projects in 4,500 areas allocated 275 million manat. NFES loans in 2014 are projected at 280 million manat, of which 150 million manat come from the state budget, and the rest will be provided by the return of credits. -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