The National Entrepreneurship Support Fund (NESF) has identified priority areas for lending business in Khachmaz.
As stated in the declaration of the Fund on the website of the Ministry of Economy and Industry, it is recommended to draft special stores selling organic food. In addition, farmers are welcome to open shops, mini bakeries, meat cutting businesses and farms of intensive gardening.
Businessmen meeting the criteria may be authorized in the credit institutions to fund their projects and can rely on appropriate consultations, as well as a loan of up to 100% of the cost of the project, it is noted in the ad.
NESF was established in 1992. The agents of the Fund for loans are 46 bank and non-bank credit organizations. In 2013, the Fund disbursed subsidized loans for 275 million AZN. In 2014, the Fund plans to extend a credit in the amount of 280 mln 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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