BAKU12/.11.12/TURAN National Fund for Entrepreneurship Support (NFES) provided loans to businesses in the surrounding areas of Samukh.
As reported in the fund, the funds' authorized agents 44 businesses provided loans totaling 561 thousand manats, which in turn will create up to 80 new jobs.
Since the beginning of this year, to finance 2144 investment projects, 196 million manat was allocated. Of this, 376 projects totaling 13.2 million manats were sold in Ganja-Gazakh economic region. Thus, the fund has mastered 98% under budget for the year 2012.
NFES was established in 1992 and has an active lending fund started in 2002. Issuing loans to entrepreneurs, 38 authorized banks and non-banking credit organizations. In 2011, 138 million manat was allocated for the funding of 1643 projects. NFES loans in 2012 are projected at 200 million manat, of which 90.1 million manat funds allocated from the state budget. In 2013, lending is to reach 300 million manat, of which 50 percent should come from the state budget. - 15D -
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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