Azerbaijan, Baku / Trend corr. А.Badalova / Privilege credits in amount of AZN 82.7mln were allocated to 798 entrepreneurs in 55 cities and regions of Azerbaijan fro eleven months of 2007, stated in the report of the Azerbaijani Ministry of Economic Development. Some AZN 12.2mln of the fund was returned back to treasury fund.
Allocation of privilege credits to entrepreneurs is implemented through 27 commerce bank, one non-bank organization and 4 credit unions.
In 2007 some AZN 80mln was allocated from state budget for development of entrepreneurship in the country. Some AZN 6mnl of the sum was directed to development of entrepreneurship in the Nakhchivan Autonomous Republic (NAR) of Azerbaijan.
Credits allocated to entrepreneurs are directed to produce of industrial products, production and development of agricultural products, as well as financing of projects in service sphere. More than 77% of projects are envisaged for regions.
There are plans to create 14,800 new jobs as a result of allocation of privilege credits.