The National Fund for Entrepreneurship Support NFES plans to provide loans to entrepreneurs in Khyzy region

The National Fund for Entrepreneurship Support (NFES) has identified priority areas for lending to businesses in Khyzy, reported in the announcement of the Fund.

It is considered  reasonable to credit projects in the Khyzy region: livestock farms, bee farms, including honey production by industry, enterprises for the production of cheese, as well as the manufacture of plastic doors and windows.

"Entrepreneurs operating in Khyzy may submit to the authorized credit organizations of the Fund  to their projects in these areas.  They also can get money for consultation. Moreover, based on the wishes of entrepreneurs  the NFES can provide a loan of up to 100% of the project,"  reads the announcement.

The NFES was established in 1992.  The agents  of the Fund while issue of the loans  are  46 banks and non-bank credit organizations. In 2013, the Fund issued subsidized loans for 275 million manat.  In 2014  the Fund plans to issue 280 million manat loans. Recently  there are  shocking scandals due to misappropriation  by authorized banks multimillion funds through  the front entrepreneurial  farms. --17D—

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