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
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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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