NFES mastered 98.3% of the budget in 2012

BAKU/16.11.12/TURAN National Fund for Entrepreneurship Support (NFES) provided loans to businesses in Imishli and the surrounding areas.

As reported in the fund, the fund's authorized agents provided loans totaling 508 thousand mantas to 51 businesses, which in turn will create up to 90 new jobs.

Since the beginning of the year to finance 2,161 investment projects there was allocated 196.5 million manat. Of these, 925 projects totaling 62.8 million manats were realized in the Aran economic region. Thus, the fund has mastered 98.3% for the year 2012 budget.

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 allocated from the state budget. In 2013, the lending is to reach 300 million manat, of which 50 percent will come from the budget. - 15D -