Azerbaijan, Baku, Sept.2. / Trend N. Ismayilova /
The Azerbaijani National Entrepreneurship Support Fund (NESF) under the Azerbaijani Economic Development Ministry financed 7 of 12 proposals, which won in the tender on construction of refrigerator storage complexes with a capacity of 2,000 tons each, to store foodstuff, Executive Director of the Fund, Shirzad Abdullayev said on Sept.2.
So far, the fund issued 17 million manat to finance 7 investment projects on construction of refrigerator storage complexes, Abdullayev added. "We visit regularly the regions to observe construction processes of the complexes," Abdullayev said.
The remaining five projects will be financed by late September, Abdullayev added.
These projects will be financed after solution of issues relating to documentation between entrepreneurs and banks, as well as with executive powers of the economic regions, Abdullayev said.
The Fund also continues to receive investment projects from entrepreneurs, who appealed to the fund individually, to build refrigerator storage complexes in other regions.
The Fund approved financing 12 proposals as a part of the tender and six of them are in the Guba-Khachmaz region, four in Aran region and one project in the economic regions Ganja-Kazakh and Lankaran.
Selected projects will be financed both by their own funds and the Fund's lax loans (decided on the financing up to 70 percent of the value of investment projects by public funds) and even by possible involvement of the Azerbaijan Investment Company or its subsidiaries.
The fund decided to fund up to 24 million manat of the total value of approved projects, which amounts to more than 40 million manat.
On Sept.2, the official exchange rate is 0.804 manat to $1.
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