100 more preferential loans provided to entrepreneurs in Azerbaijan's regions

Azerbaijan, Baku, September 4 / Trend N.Ismayilova /

The National Fund for Entrepreneurship Development (NFED) under the Ministry of Economic Development of Azerbaijan held an event on the theme "State support for entrepreneurship development in the regions of the country" in the city of Tovuz on September 4, the Ministry said on September 4.

Participants of the event visited the production area and the vineyards planted by Naiqin Co Tovuz-Baltiya Company. Obtaining preferential loan from the Fund, the company planted vines on 68 hectare area and purchased modern equipment from Italy and France. Today 95 percent of the company's products are exported to Russia, Ukraine, Latvia and Poland. The products were exhibited at various international exhibitions and gained awards.

Participants also got familiarized with the construction process of refrigeration warehouse complex in Tovuz region by Azer Aqro LTD, which won the tender. In total, the Fund approved financing for 12 proposals in the tender, including six projects in the Guba-Khachmaz district, four projects in the Aran region, and one project in Ganja-Kazakh and Lankaran economic regions
During the event, through six authorized credit organizations, the Fund provided 100 more preferential loans to entrepreneurs in Tovuz, Gazakh, Agstafa and Shamkir economic zones. Financing projects through preferential loans will help create over 100 new jobs.

Thus, from the beginning of this year, the Fund provided 1,250 loans to entrepreneurs in amount of 66 million manat. Financing projects through preferential loans will help create around 5,000 new jobs.

Official rate on September 4 is 0.804 AZN/USD.

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