NFES Mastered Just Over a Third of the Budget in 2013

National Fund for Entrepreneurship Support (NFES) provided to businesses in the surrounding areas Mingachevir and loans.

As reported in the fund, the fund is authorized agents the 36 subjects of entrepreneurship provided loans totaling 1.3 million manat, which in turn will create 80 new jobs.

Since the beginning of this year to finance investment projects 669 allocated 83 million manat. For all the time in the Aran economic zone there were implemented 5400 projects worth 273.7 million manat. Thus, the fund has mastered 33.2% of the budget in 2013.

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 2012, the Fund for the financing of 2400 investment projects allocated 218 million manat. NFES loans in 2013 are projected at 250 mln. manats. - 15D -


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