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Preferential loan allocated in Azerbaijan for construction of bread-baking plant in region

Business Materials 22 May 2009 19:45 (UTC +04:00)

Azerbaijan, Baku, May 22 / Trend /

The national fund for entrepreneurship support under the Azerbaijani ministry of economic development allocated loan to accelerate construction of bread-baking plant Eviar in Ismailli on May 22, the ministry said.

The loan in the amount of 450,000 manat was granted via authorized loan organization at preferential terms.

The plant worth 2 million manat is situated in Ivanovka settlement. The plant will produce 6,000 tons of different flour production and bread per year. There modern technologies on the plant. It is planned to open over 40 new jobs.  

Loans in the amount of 759,000 manat were given at preferential terms owing to funds of the national fund to 52 entrepreneurs of Ismailli, Shamakha, Gobustan and Agsu within the meeting.

Financing of projects via preferential loans will promote over 120 new jobs.

The national fund for entrepreneurship support conducted training "Preparation and estimation of investment projects submitted by subjects of entrepreneurship to get preferential loans owing to the national fund". The training was dedicated to estimation of investment projects submitted by entrepreneurs, procedure of business-plans designing and use of preferential loans. Over 150 entrepreneurs from Nagorny Shirvan participated in the training.

On May 22, the official exchange rate is 0.8036 manat to $1.

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