The National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Agdash and the surrounding areas.
As reported in the fund are authorized agents of the fund 70 business entities were granted loans totaling 725,500 manat, which in turn will create over 100 new jobs.
Since the beginning of the year 2697 on the financing of investment projects provided more than 208.4 million manat. For all the time in the Aran economic zone was implemented over 6320 projects worth 300.7 million manat.
NFES was established in 1992 and active lending by the Fund began in 2002. Issuance of loans to entrepreneurs is done 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. Thus, the fund has mastered 83.36% of the budget. - 15D -
Economics
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Azerbaijani President Ilham Aliyev has signed a decree introducing amendments to the "Armed Forces of the Republic of Azerbaijan" law. The decree, issued on December 24, 2024, follows the implementation of changes under the law of November 7, 2024, and aims to ensure their practical application.
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Silk Way Alat Free Economic Zone (SW AFEZCO) has entered a transformative stage in its development, signing a pivotal agreement with FF Construction for the design and construction of the Silk Way Cargo Village in the Alat Free Economic Zone (AFEZ). This ambitious project includes the planning, engineering, and building of three cornerstone facilities that will underpin the Cargo Village: an air traffic control center, a business aviation terminal, and a fire station.
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BAKU, Dec 24 (Reuters) - Azerbaijan’s President Ilham Aliyev has issued a decree to boost the cargo handling capacity of the Baku International Sea Trade Port, allocating 20 million manats ($11.8 million) from the presidential reserve fund for the port's expansion project.
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A meeting was held between the State Service for Antimonopoly Control and Consumer Market Supervision and entrepreneurs in the fuel sector, highlighting both current challenges and promising steps toward progress. Discussions, organized under the Ministry of Economy, focused on fuel quality issues, consumer rights protection, and compliance with established standards in a country where vehicle fuel has long been a contentious issue.
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