Entrepreneurs from Mingachevir region got favorable loans worth over 100mln manat

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry issues favorable loans totaling 554,000 manat to 44 entrepreneurs of Mingechevir and nearby regions today, the ministry said.

Some 90 new job places will be opened at the expense of these funds. The (NFES) organized the next event in the Mingechevir region, which was attended by about 140 entrepreneurs, working in Mingechevir economic area. The event also defined priority areas in the Lankaran region for confessional financing of projects.

During the event, participants familiarized with work carried out by the Turyanchay farm on the construction of cattle-breeding complex for 800 heads in the Agdash area. The NFES funded four projects on the construction of livestock farms for 4,650 heads in 2010. One of them has been commissioned in Agdam and construction of the remaining three will be completed in the first half of 2011.

The NFES also held a training session during which the entrepreneurs were briefed on the mechanism of issuing favorable loans, the formation of business ideas, and the preparation of and rules for investment projects.

Since early 2010, the fund has allocated favourable loans worth 100.9 million manat to 1,336 entrepreneurs. Over 45,003 new jobs have been opened thanks to this loans , whose great part fell to the country's regions.


/Trend/