Almost all entrepreneurial projects (2579 of 2602) received in the past year by the National Fund for Entrepreneurship Support (NFES) were funded.
According to data reported by the fund (http://anfes.gov.az/files/Hes_2012.pdf), demand for loans for projects approved in 2012 to fund amounted to 239 million 356.5 thousand manats.
According to the fund, most (1108) of the projects involved the entrepreneurs of Aran economic region. Much less figures accounted for other regions. So, on the Ganja-Gazakh economic region had 445 projects, villages and settlements around Baku - 223, at Guba-Khachmaz economic region - 170, on the Lankaran economic region - 190, and so on, descending line.
Much of the credit allocated to agriculture and processing sector - 165 million 403 thousand manats for the implementation of 2450 projects.
According to official figures, the fund has financed since the beginning of the year 1397 investment projects totaling 145.3 million manats.
NFES was established in 1992 and active lending by the Fund began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. - 17D-
Economics
-
Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
-
The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
-
Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
-
In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
Leave a review