The National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Shemakha and the surrounding areas.
As reported in the Fund, authorized agents of the Fund provided 57 business entities with loans totaling 688 thousand manats, which in turn will create about 90 new jobs.
Since the beginning of the year for the financing of 2871 investment projects the Fund has provided more than 216.8 million manat. For all the time in the Nagorno-Shirvan economic zone there were implemented over 980 projects worth 33 million manat.
NFES was established in 1992 and active lending by the Fund began 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. Thus, the fund has mastered 86.72% of the budget. - 15D -
Economics
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