TODAY.AZ / Business

Three-star hotel to be built in Tartar region

05 September 2017 [16:20] - TODAY.AZ

By Azernews

By Rashid Shirinov

Azerbaijan’s National Fund for Entrepreneurship Support (NFES) has started receiving investment projects on priority development areas of Tartar region, the Economy Ministry reported on August 5.

Following the business forum, the NFES launched accepting entrepreneurs' proposals for financing investment projects for creation of horticultural farms for growing apples, cherries, persimmons and apricots, as well as for animal breeding, cheese production enterprises, and for construction of a three-star hotel.

The NFES, created in 1992, issues loans to entrepreneurs through authorized banks and non-bank lenders. During the first half of the year, the Fund contributed to the creation of 2,300 new jobs in Azerbaijan.

The main goal of NFES is to provide preferential loans from the state budget for small and medium business, in order to develop entrepreneurship in the country.

In general, about 150 million manats ($88 million) will be issued for granting preferential loans to entrepreneurs in Azerbaijan until the end of 2017.


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