NFES issues 50 million manat to fund investment projects

The National Entrepreneurship Support Fund under Economic Development Ministry of Azerbaijan has provided already one fourth of concessional loans designed for 2012.

The Minsitry reported that since early 2012 the Fund gave loans for AZN 50 million for financing of 526 investment projects. Credits for AZN 44.4 million were provided for financing 440 projects in the country’s regions, and AZN 5.6 million for 56 projects in Baku suburbs. The endorsed financing will enable to create about 2,200 jobs.

Concessional loaning from the Fund in 2012 should amount to AZN 200 million. In 2011 the Fund provided credits for AZN 138 million, including AZN 104 million at the expense of earlier repaid funds on previously issued loans and AZN 34 million at the expense of budget assignations provided for a year. By early 2012 the Fund granted AZN 720 million to business for the entire history.
 

/abc.az/