The National Fund for Entrepreneurship Support (NFES) granted loans to entrepreneurs operating in the village Hodzhasen of the Binagadi district.
As reported in the fund, as part of the state support of entrepreneurship in Baku settlements, agents of the fund provided 19 subjects of entrepreneurship with loans totaling 3 million manat, which in turn will create more than 200 new jobs.
Since the beginning of this year, to finance 2,419 investment projects, 218 million manat has been allocated. During 2011 and the elapsed time of the year AZN 72 million has been spent for lending to entrepreneurs in Baku settlements on 401 projects.
NFES was established in 1992 and started active lending in 2002. Issuing loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2011, the Fund for the financing of 1,643 investment projects allocated 138 million manat. NFES loans in 2012 were projected at 200 million manat, of which 90.1 million manat was allocated from the state budget. In 2013, the lending is to reach 300 million manat. Exactly half of this will come from the budget. - 15D -
Economics
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