Economic Development Ministry registers 5 new grant agreements

Business Materials 8 January 2009 15:44 (UTC +04:00)

Azerbaijan, Baku, Jan. 8 / Trend , I.Khalilova/

The Azerbaijani Economic Development Ministry recently registered 5 grant agreements with four commercial enterprises, the ministry said on Jan. 8. Registration was processed based on the respective regulations.

A total of $253,400 was allocated through these agreements. The funds will used for micro-loan projects to help IDPs and low-income families start small businesses, to support loan unions, and to organize training to improve employee administrative skills.

Under the Code of Administrative violations, three commercial organizations were fined due for not submitting copies of their grant agreements to the ministry last year. Their payments were transferred to the public budget.

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