The National Fund for Support to Entrepreneurship (NFSE) completed use of the funds allotted from the public budget to develop the entrepreneurship in 2005.
The government allotted 200 billion manats in this regard with 15 billion manats for implementation of the projects in the Nakhichevan Autonomous Republic and 185 billion manats for other regions, Gadir Husseynov, the head of the NFSE, told Trend.
The fund for the Nakhichevan AR and 165 billion manats of the envisaged for other regions has been used. “We have banking applications on use of the rest 20 billion manats. So the use of the fund may be considered as completed,” Husseynov noted.
He also noted that the issue of credits was speed up in accordance with the President’s decree. The Fund was established in 1992, but started its function in 1993.
The Fund received 70 billion manats from 1993 to 2001 and used around 7-8 billion manats. 13 billion manats was envisaged for crediting of entrepreneurship from the state budget in 2002, 50 billion manats вЂ" in 2004, 200 billion manats вЂ" in 2005. The planned figure for 2006 comprises 400 billion manats.