The National Fund for Entrepreneurship Support (NFES) has provided this year 81.9 % of the funds for the implementation of major projects. Thus, ironically, the fund that initially aimed to support small and medium-sized businesses has become a donor for major entrepreneurship.
According to the promulgated NFES table for the implementation of 57 projects the fund allocated loans of large size (up to 10 million manat) - a total of more 200.7 million manat. Most of the funds (122.9 million or 50.1 %) were focused on financing projects in agricultural production. 9 projects for funding for processing agricultural products were allocated 32.6 million manat.
In January -September NFES funded 3,527 projects, 97.9% (3,452) of which is accounted for by small loans (up to 10,000 manat). For their funding there was directed 41.8 million manat, which is 17 % of the total allocated credits.
If large projects promise to open 3,873 new jobs, "small" projects will open 6,114 jobs, according to NFES.
This year and in 2014 the volume of concession lending business at the expense of NFES is to be 250 million manat. The Fund operates under the Ministry of Economy and Industry. Means to the Fund are allocated from the state budget. - 08D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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