Priority spheres of lending business in Lankaran have been determined. According to the report of the National Fund for Entrepreneurship Support (NFES) under local conditions it is advisable to finance small and medium-sized family farms and 50 dairy cattle, environmentally friendly "green stores" tea-growing farms, orchards and gardens with the use of modern irrigation and as enterprises producing cheese and dried fruit.
"Entrepreneurs operating in the Lankaran district may submit to the authorized credit organizations fund their projects in these areas. Also they can get money for consultation. Moreover, based on the wishes of entrepreneurs, NFES can provide a loan of up to 100% of the project," the statement said.
NFES was established in 1992. Agents of the Fund for loans are 46 banks and non-bank credit organizations. In 2013, the Fund disbursed subsidized loans for 275 million manat. In 2014 the Fund plans to issue loans of 280 million manat. -17D-
Economics
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A business meeting took place between the Chamber of Auditors of the Republic of Azerbaijan and Reanda International Network Limited on July 26, aiming to study advanced global practices in independent financial control and expand their application in Azerbaijan. This initiative follows the program instructions of the Azerbaijani president, the Chamber of Auditors reported.
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Azerbaijan's inflation for the 12 months ending in June stood at 1.1%, with core inflation at 0.8%, the chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, announced at a press conference on Monday. Annual food inflation was recorded at 0.2%, non-food inflation at 1%, and services inflation at 2.4%.
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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