Azerbaijan, Baku, Oct. 13 / Trend I. Khalilova /
The country's needs in poultry meat and breeding eggs will be fully satisfied by domestic production from 2012 as a result of projects funded by the National Fund for Entrepreneurship Support under the Azerbaijani Ministry of Economic Development, Shahin Mustafayev, Minister of Economic Development, said at the plenary session of the Azerbaijani Parliament.
"The National Fund also financed projects to build the necessary infrastructure to create the country's grain reserves, Mustafayev said.
The fund financed the construction of 16 grain warehouses with a total capacity of 266,000 tons.
Two warehouses with a total capacity 160,000 tons of grain will operate by late 2010.
Over 23 refrigerated warehouse complexes with total capacity of 70,000 tons were built due to preferential loans of the fund. Over 12 refrigeration systems were put into operation. Over 11 complexes are under construction.
Over 34 million manat will be allocated from the state budget in 2011 to form the loan portfolio of the fund, 6 million manat - maintain a similar fund in the Nakhichevan Autonomous Republic.
According to the preliminary forecasts, loans will be provided on concessional terms to the amount of 115 million manat, including 44 million manat from the state budget in 2010.
The find chose the development of agriculture, light and food industry as priority directions in 2010.
The fund issued more than 2,100 loans totaling 130 million manat through the authorized credit organizations in 2009. Thus, the number of entrepreneurs who have received preferential loans increased by 2,6 times, and the volume of loans - by 48 percent in last year compared to 2008.
The fund was established in 1992. The loans are issued to entrepreneurs through authorized banks and nonbank credit organizations numbering 36.
On Oct. 13, the official exchange rate is 0.8018 manat to $1.