TODAY.AZ / Business

Agrarcredit lends AZN 155mln in rural areas

21 February 2007 [08:45] - TODAY.AZ
Mammad Musayev, Chairman of the management Board of the Agrarcredit nonbank credit organization, gave a press conference on social and economic development of the regions.

He said during three years AZN 155mln were lent to finance rural development, 5,385 projects were funded and 15,560 enterprises were established.

He added the National Fund Supporting Enterprises allocates AZN 100mln for rural development every year.

The Organization has activities in four directions, lending loans, bank agent in financing of six World Bank projects, distribution of the loans by National Fund Supporting Enterprises and targeting agricultural vehicles bought through funding by Japanese Government.

The organization's full year net profit was AZN 1mln.

As of January 1, its authorized capital made AZN 11.8mln. APA

URL: http://www.today.az/news/business/36793.html

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