The National Fund for Entrepreneurship Support (NFES) provided loans to businesses in Shamkir and the surrounding areas.
As reported in the fund, the fund's authorized agents provided loans totaling $ 600 thousand manats to 45 businesses, which in turn will create over 70 new jobs.
Since the beginning of this year to finance 1,800 investment projects 159 million manat was allocated. Of these, more than 2,600 projects worth 92 million manat were arranged in the Ganja-Gazakh economic region. Thus, the fund mastered 79.5% under the budget for the year 2012.
NFES was established in 1992 and its active lending started 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. - 15D -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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