Proportion of Large Projects in Concessional Lending Remains High

The National Fund for Entrepreneurship Support (NFES) issued a report for 2016 on the areas of lending and the volume of loans issued to entrepreneurs, according to which, the proportion of large projects in the portfolio of concessional lending increased by 7.9%.

In 2016 through NFES authorized credit organizations funded 2,477 projects. Preferential loans totaling 189.4 million manat were granted, which is 59 milllion manat or 23.8% less than in the previous year.

The bulk of the loans, as in the previous year, is aimed at agricultural production - 120.8 million manat.. The share of agricultural projects (2,336) exceeded 94% in the NFES portfolio.

Funded were 12 projects on agricultural processing, the credit demand on which was 22.5 million manat. Also it financed (32,5 million manat) 121 projects for the production of various industrial products.

NFES noted that in 2016 it allocated 157.6 million manat for the implementation of 41 large-scale project on the AMF standards. Large loans are considered, the amount of which reaches 10 million manat. Their repayment can last up to 10 years. ---08D