Volume of soft loans received by Azerbaijani entrepreneurs revealed

By  Trend

The National Fund for Entrepreneurship Support (NFES) of Azerbaijan has provided preferential loans worth 121.7 million manats to businessmen since early 2017, the Azerbaijani Economy Ministry said on December 7.

The loans were allocated for about 1,850 business entities to implement the investment projects worth 500 million manat.

As part of a business forum held in the country’s Goychay district, entrepreneurs received preferential loans worth 4.3 million manats. These funds will be used for the development of livestock, horticulture, the creation of an agricultural park, the production of building materials and other spheres. Over 400 jobs will be created as a result of the implementation of the projects.

In general, entrepreneurs of Aran economic region have received preferential loans worth 545 million manats so far.

It is planned to allocate 150 million manats through the NFES in 2017.

Azerbaijan’s NFES was established in 1992.

(1.7 manats = 1$ on December 7)