The priority areas for lending to entrepreneurs in the Khazar district of the capital are known. According to the National Fund for Entrepreneurship Support (NFES), the lending will regard specialized green stores, livestock and bee farms, enterprises for the production of plastic doors, windows, decorative stone and socks.
Those who present special projects may be eligible for appropriate advice and even a loan of up to 100% of the project cost.
NFES was established in 1992. Agents of the Fund for loans are 50 banks and non-bank credit institutions. The volume of lending to entrepreneurs in Azerbaijan through NFES in 2014 amounted to 295 million AZN. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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