Azerbaijan, Baku, March 10 / Trend /
The National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan, issued to entrepreneurs operating in Aran economic region, 47 favorable loans totaling approximately 650,000 manat through the authorized credit organizations, the ministry said.
The distribution of loans among the entrepreneurs from Bilasuvar regions and neighbouring regions held within the program on state support to entrepreneurship in the regions. The event took place in Bilasuvar with the participation of 250 entrepreneurs from Aran economic region.
It is planned to create more than 100 new jobs on the basis of these loans
Participants in the event also learned about the activities of the canning factory, built by Azersun Holding at the expense of NFES loans.
NFES was established in 1992. Loans are allotted to entrepreneurs through authorized banks and non-bank credit organizations, whose overall number is 36. In 2009, NFES issued more than 2,100 loans through authorized credit organizations, totaling 130 million manat. Thus, in 2009 compared to 2008, the number of entrepreneurs who have received preferential loans from the funds NFES has increased by 2.6 times and the volume of loans - 48 percent.
The Fund plans to provide favorable loans in the amount of at least 115 million manat in 2010.
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