The National Fund for Entrepreneurship Support (NFES) granted loans to entrepreneurs operating in the village Sahil in the Garadagh district.
As reported in the fund, as part of the state support of entrepreneurship in Baku settlements, agents of the fund provided 20 business entities with loans totaling over 6.4 million manat, which in turn will create up to 250 new jobs.
Since the beginning of this year to finance 1,757 investment projects the Fund allocated 150 million manat. During 2011 and the elapsed time of the year for lending 345 projects of entrepreneurs in Baku villages the Fund directed 56 million manat. Thus, the fund has mastered 75% under budget for the year 2012.
NFES was established in 1992 and its active lending started in 2002. Issuing loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2011, the Fund, for the financing of 1,643 investment projects, allocated 138 million manat. Of these, 210 projects amounting to AZN 35 million were realized in Baku settlement. NFES loans in 2012 are projected at 200 million manat, of which 90.1 million manat is allocated from the state budget. - 15D -
Economics
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