Azerbaijani entrepreneurs get favorable loans worth over 320,000 manat
Azerbaijan, Baku, Nov. 6 / Trend N.Ismayilova /
The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry issues favorable loans totaling approximately 327,000 manat to 26 entrepreneurs of the Shabran and nearby regions today, the ministry said.
Some 50 new job places will be opened at the expense of these funds.
The (NFES) organized the next event in the Shabran region, which was attended by over 250 entrepreneurs, working in Guba-Khachmaz economic area. The event also defined priority areas in the Shabran region for confessional financing of projects.
The event participants got familiarized with the work of the refrigeration warehouse with capacity of 7,000 tons in the Absheron region, a complex for meat and milk processing, refrigeration warehouse with a capacity of 4,000 tons in Sumgait, which attracted the NFES preferential loan.
The NFES also held a training session during which the entrepreneurs were briefed on the mechanism of issuing favorable loans, the formation of business ideas, and the preparation of and rules for investment projects.
The official exchange rate is 0.7997 manat to $1 Nov.5.