Azerbaijani entrepreneurs receive favourable loans worth half million manats

The National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan, organized the next event on the topic"State support to entrepreneurship in the regions", attended by about 400 entrepreneurs, working in Aran economic region, the ministry said.

Within the event favourable loans totaling approximately 530,000 manat were issued to 41 entrepreneurs through the authorized credit organizations. It is planned to create more than 80 new jobs on the basis of these loans.

Participants also got acquainted with finishing operations on construction of a warehouse complex for storage and grain cleaning with capacity of 10,000 tons, held by Company Beyleqan-Taxıl by means of NFES favourable loans.

NFES was established in 1992. Loans are allotted to entrepreneurs through authorized banks and non-bank credit organizations, whose overall number is 36. In 2009, NFES issued more than 2,100 loans through authorized credit organizations, totaling 130 million manat. Thus, in 2009 compared to 2008, the number of entrepreneurs who have received preferential loans from the funds NFES has increased by 2.6 times and the volume of loans - 48%.


/Trend/