Priorities for the business people of the Sabirabad region have been identified. According to the National Fund for Entrepreneurship Support (NFES), it is advisable to lend for "green stores," enterprises for the production of bread, ketchup, mayonnaise, mustard, cheese and dried fruit, as well as large farms, small livestock farms, and farms of intensive horticulture.
Holders of such projects can count on appropriate consultation with the authorized credit organizations of NFES, and in case of success on a loan of up to 100% of the project cost.
NFES at the Ministry of Economy and Industry was established in 1992. Its agents in the issuance of loans are 57 banks and non-bank credit organizations.
In 2014, NFES allocated 295 million AZN to entrepreneurs. Recall that in the same year, the prosecutor's office initiated four criminal cases concerning the theft of NESF funds by banks. Unearmarked credits for this line, too, were the subject of intense investigation of law enforcement bodies of Azerbaijan. --17D-
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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