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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