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 official data, cement production in Azerbaijan has shown steady growth, reaching 3.421 million tons from January to October 2024, an increase of 11.2% compared to the same period in 2023.
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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