Azerbaijan finances eight refrigerator facilities through privileged loans
Azerbaijan, Baku, Sept.17. / Trend N. Ismayilova /
The Azerbaijani National Fund for Entrepreneurship Development (NFED) under the Azerbaijani Economic Development Ministry financed 8 of the 12 projects selected as part of the tender on the establishment of refrigerator storage facilities for storage and sale of fruits, vegetables and other food products with a capacity of 2,000 tons each, Executive Director of the Fund, Shirzad Abdullayev said on Sept. 17.
"The total cost of the 8 investment projects is 17 million manat," Abdullayev said.
According to Abdullayev, the remaining three projects will be funded by late September.
The approved projects are following: six projects in the Guba-Khachmaz region, four projects in the Aran region, one project in Ganja-Kazakh and one in the Lankaran economic areas.
The projects that won the tender are financed by the entrepreneurs' own funds and privileged loans of the NFED (it was agreed to fund up to 70 percent of the investment projects with public funds) and the participation of the Azerbaijan Investment Company or its subsidiaries is also possible.
The total value of the approved projects is more than 40 million manat and the Fund decided to finance up to 24 million manat of the total cost of these projects.
On Sept17, the official exchange rate is 0.8032 manat to $1.
Do you have any feedback? Contact our journalist at: [email protected]