The National Fund for Entrepreneurship Support (NFES) has provided grace credits to IDPs working in Bilasuvar.
According to the Fund, the authorized agents of the Fund paid 30 displaced people in Jabrail region loans totaling $ 257,000 manat, which in turn will allow to create 30 new working places.
Since the beginning of the year, for the financing of 2327 investment projects were provided more than 188.6 million manat. During this period more than 1,000 displaced people engaged in business, were issued grace credits worth 21 million manat, and since the beginning of the year 150 entrepreneurs received loans for AZN 2.2 million.
The NFES was established in 1992, and the Fuind began active lending in 2002. Issuance of loans to entrepreneurs is carried out by 38 authorized banks and non-banking credit organizations. In 2012 for the funding of 2400 investment projects the Fund allocated 218 million manat. NFES loans in 2013 are forecast at 250 million manat. Thus, the Fund has mastered 75.44% of the budget. - 15D -
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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