Over 930 investment projects financed in Azerbaijan for first six months

Business Materials 31 July 2009 18:44 (UTC +04:00)

Azerbaijan, Baku, July 31 / Trend N. Ismayilova /

The National Entrepreneurship Support Fund under the Azerbaijani ministry of economic development financed more than 930 investment projects for the first six months, executive director of the fund Shirzad Abdullayev said on July 31.

"At present, roughly 1,200 investment projects were received by the fund from entrepreneurs, 930 were financed but the rest are under repeated consideration," Abdullayev said.   

He said that fund has already granted 49.2 million manat to finance approved projects.

'The fund also intends not only to expect for initiative fro entrepreneurs but apply to entrepreneurs concerning financing upon own initiative," he said.

Preferential loans worth 130 million manat are planned to be granted via the fund in 2009, 74 million manat fall on budget funds, 56 million manat were formed owing to earlier granted resources.

On July 31, the official exchange rate is 0.8043 manat to $1.

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