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
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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