Over 12 Azerbaijani entrepreneurs apply with proposals to develop intensive gardening
Azerbaijan, Baku, Oct. 25 / Trend N. Ismayiova /
The National Fund for Entrepreneurship Support under the Azerbaijani Ministry of Economic Development announced a list of entrepreneurs' proposals to finance investment projects in the development of intensive gardening (planting of apples, pears, grape, apricots, peaches, pomegranates, cherries, plums, sloes, olives, dogwood, sub-tropical and citrus fruits).
"In total, the fund received 12 proposals. About four proposals were received from entrepreneurs operating in Guba-Khachmaz and Aran regions. The proposals were also received from entrepreneurs operating in Absheron, Mountain Shirvan, Ganja-Gazakh and Lankaran economic regions," Shirzad Abdullayev, executive director of the fund, said.
He said that the total cost of 12 proposals amounted to 18.3 million manat, 8.2 million of which are requests for concessional loans from the fund.
The cost of the projects submitted to the National Fund ranges from 110,000 manat to 4.5 million manat, and a request for concessional loans - from 90,000 manat to 3 million manat.
"The fund will consider the proposals and hold bilateral meetings with entrepreneurs," Abdullayev said.
The projects are accepted in all economic regions of the country (excluding Baku) within the contest. According to the rules of the fund, at least 30 percent of the value of the investment project must be financed by a business entity, and the rest - by the preferential loan of the fund. Azerbaijan Investment Company (AIC) or its subsidiaries can also act in financing the project as a shareholder.
Entrepreneurs must apply to the authorized credit organizations of the fund. After receiving a positive decision, they must provide them to the National Fund.
The decisions will be announced by the fund on Nov. 10, 2010.