Azerbaijan, Baku, March 18 / Trend , N.Ismayilova /
The National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan, 280 entrepreneurs of the Mountainous Shirvan region attended the event on the topic "State support to entrepreneurship in the regions", the ministry said.
Within the event favourable loans totaling approximately 550,000 manat were issued to 40 entrepreneurs through the authorized credit organizations. It is planned to create more than 90 new jobs on the basis of these loans
Participants of the event also got familiarized with finishing works in construction LTD "Aveta" grain warehouse complex with a capacity of 10,000 tons in the Absheron region. The complex is built on the favourable loan from the National Fund money.
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.