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—
Economics
-
Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
-
Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
-
Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
-
The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
Leave a review