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NFES Mastered 47% of Budget for this Year
The National Fund for Entrepreneurship Support (NFES) has provided soft loans to entrepreneurs working in the village Bilyadzhari in Binagadi.
As reported in the fund, as part of the state support of entrepreneurship in Baku settlements, agents of the fund issued loans worth AZN 1.1 million to 23 business entities, which in turn will create about 50 new jobs.
Since the beginning of this year, to finance 481 investment projects there has been allocated 117.3 million manat. Thus, the fund has mastered 47% of the budget provided in 2013.
NFES was established in 1992 and started active lending in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012 the fund to finance 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are forecast at 250 million manats. - 15D -
Economics
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