Azerbaijan, Baku, 11 January/corr. Trend A. Badalova/ In 2007, AZN 80 bln. Were allocated from the public budget for the development of the private sector in Azerbaijan, the Ministry of Economic Development of Azerbaijan reported on 11 January. AZN 6 bln. out of this amount have been directed to the development of the entrepreneurship in Nakhchivan Autonomous Republic. Twenty seven commercial banks, one non-bank credit organization and 4 credit unions granted the soft credits.
In 2007, 882 entrepreneurs were allocated soft credit in the amount of AZN 90.7 mln, at the expense of the National Fund for Entrepreneurship Assistance. AZN 17 mln, out of this amount is the resources, which were returned to the treasury account of the fund.
The allocated credits were directed for: the production of the industrial goods, the production and processing of agricultural products, to the service industries and the mass media as well. 77% of the financed projects fell in these regions.
As a result of the projects financed at the expense of the soft credits allocated by the National Fund for Entrepreneurship Assistance in 2007, 1500 new jobs are expected.