...

Azerbaijani entrepreneurs receive 45 favourable loans

Business Materials 30 June 2010 13:48
The National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan, organized the next event on the topic "State support to entrepreneurship in the regions", attended by about 250 entrepreneurs, working in Aran economic region, as well as the Shirvan region, the ministry said.
Azerbaijani entrepreneurs receive 45 favourable loans

Azerbaijan, Baku, June 30 / Trend /

The National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan, organized the next event on the topic "State support to entrepreneurship in the regions", attended by about 250 entrepreneurs, working in Aran economic region, as well as the Shirvan region, the ministry said.

Within the event favorable loans totaling approximately 550,000 manat were issued to 45 entrepreneurs through the authorized credit organizations. It is planned to create more than 90 new jobs on the basis of these loans

Participants familiarized with the producer of vegetable oils in the Shirvan region- Bahruz company, in the Neftchala region - the manufacturer of chicken and eggs JSC "Garagaslı Broyler", and glass producer - "Design Glass" as well as with the construction of refrigeration warehouse complex in the Salyan region carried out by "Ələddin Fermer" company and grain warehouse and a modern cattle-breeding complex for 800 heads carried out by "Hacı Camalxan" Company. The participants also familiarized with the manufacturer of plastic pipes and products - JSC "Salyan plastik kutlə emalı" and dairy products - "Salyan sud" Company. All of these projects are realized at the expense of the NFES credit resources.

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 loans worth at least 115 million manat in 2010.

Do you have any feedback? Contact our journalist at [email protected]

Tags:
Latest

Latest