The priority spheres of the National Fund for Entrepreneurship Support (NFES) for lending to entrepreneurs in Barda have been identified.
As stated in the information, priority will be given to livestock operations, enterprises for the production of cheese, facing stone and socks, "green" and small farm shops, as well as farms of intensive gardening.
Businessmen who specialize in these areas of agribusiness and services may apply to the authorized credit institutions for funding their projects in the hope of obtaining appropriate advice and even loan up to 100% of the appraised value of the project.
NFES was established in 1992. Agents of the Fund for loans are 50 banks and non-credit institutions. The volume of lending to local entrepreneurs through NFES last year amounted to 295 million manat. --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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