Some $ 40 mln allocated to internally displaced persons in Azerbaijan

Photo: Some $ 40 mln allocated to internally displaced persons in Azerbaijan  / Finance

Baku, Azerbaijan, June 20

By Zulfiyya Qurbanova - Trend:

The preferential loans worth 414,500 manats were granted to 43 entrepreneurs of Jabrayil and Bilasuvar regions through the National Entrepreneurship Support Fund under the Azerbaijani Ministry of Economic Development on June 19, the ministry reported.

The implementation of the projects through these funds contributes to creating about 60 new jobs.

The credit fair was held during a business forum as part of the "State program on improving living conditions and increasing employment of refugees and internally displaced persons" with the participation of about 100 entrepreneurs in the settlement No. 4 in Bilasuvar region, where temporarily displaced persons from the Jabrayil region settled.

The samples of investment projects were presented to establish bakeries, confectioner's shop, cheese dairy, sewing workshop. It is considered appropriate to finance them through concessional loans.

It was stressed that the projects can be fully financed through the concessional loans. These enterprises will be provided with the necessary equipment at internally displaced people's desire.

The National Entrepreneurship Support Fund issued concessional loans worth 30.8 million manats for 1,300 entrepreneurs among internally displaced people, as well as concessional loans worth 1.5 million manat for 244 refugees from the Jabrayil region, National Entrepreneurship Support Fund executive director Shirzad Abdullayev said at the event.

The implementation of these projects contributed to opening about 2,700 new jobs.

Some 4.9 million manats (including loans issued at the last forum) were issued for 100 entrepreneurs among internally displaced people within the recent months of 2014.

About 250 new jobs are planned to be created due to the implementation of these projects.

The fund plans to issue loans worth 280 million manat in 2014, of which 150 million manat will be ensured at the expense of repayment, and the remaining 130 million manat - at the expense of the state budget.

The National Entrepreneurship Support Fund was established in 1992. The loans are issued to entrepreneurs through authorized banks and non-bank credit organizations. Their total number is 45.

The official exchange rate is 0.7843 AZN/USD on June 20.

edited by CN

Follow us on Twitter @TRENDNewsAgency