The National Fund for Entrepreneurship Support (NFES) provided loans to businesses in Bilasuvar and the surrounding areas.
As reported in the fund, the fund's authorized agents provided loans totaling $ 1.8 million manat to 45 businesses, which in turn will create over 120 new jobs.
Since the beginning of the year, to finance 2,050 investment projects 173.8 million manat has been allocated. Of these, 840 projects totaling 55.1 million manats were realized in the Aran economic region. Thus, the fund has mastered 86.9% of the budget for the year 2012.
NFES was established in 1992 and started active lending 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. NFES loans in 2012 are projected at 200 million manat, of which 90.1 million manat is funds allocated from the state budget. - 15D -
Economics
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