The National Fund for Entrepreneurship Support (NFES) has provided soft loans to entrepreneurs in Yevlakh and surrounding areas.
As reported in the fund, the fund's authorized agents provided 46 business entities with loans totaling 3.6 million manat, which in turn will create up to 120 new jobs.
Since the beginning of this year, to finance 233 investment projects, there has been allocated 27.4 million manat. For all the time in the Aran economic zone there have been implemented 5,200 projects worth 261 million manat. Thus, the Fund has mastered 9.1% of the budget in 2013.
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 2012, the Fund for the financing of 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are projected at 300 million manat, of which 50 percent should come from the budget. - 15D -
Economics
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