Azerbaijan, Baku / Trend corr A. Badalova / The Azerbaijani National Fund for Support to Entrepreneurship allocated 73.9mln manats (AZN) of privileged credits to 666 entrepreneurship entities within the 10 months of 2007. The credits were spent for financing projects on production of industrial products, production and processing of agricultural products, tourism infrastructure, as well as services, Azerbaijani Economic Development Ministry reported.
AZN 65mln of AZN 74mln, which was allocated in 2007 from the public budget, was transferred to the treasury account of the Fund and AZN 9.2mln was allotted to entrepreneurship entities as credits.
The National Fund for Support to Entrepreneurship allocates credits to small entities through 27 commercial banks, 1 non-bank credit organization, and 4 credit unions.
Some 13,000 new jobs are expected to be opened through the projects implemented owing to the allocated credits.