Azerbaijani entrepreneurs get favorable loans worth 23 million manat

Azerbaijani entrepreneurs get favorable loans worth 23 million manat

Azerbaijan, Baku, March 14 / Trend N.Ismayilova /

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry issued favorable loans totaling 418,000 manat to 35 entrepreneurs of the Yevlakh and nearby regions, the ministry said.

About 70 new job places will be opened at the expense of these funds. The event was held with the participation of about 180 entrepreneurs of the Yevlakh region.

Participants familiarized with the activities of "AS İnşaat" with a capacity of 16,000 tons of building materials using reinforced concrete in a year.

In accordance with the previously determined priority areas for concessional financing of projects in the region, the event presented projects to build a bakery with capacity of 10,000 tons per day and poultry farms with a capacity of 2,000 tons per year, as well as a modern greenhouse complex.

Sine early 2011, the NFES issued 241 loans amounting to 23 million manat. The loans covered 17 major projects based on the introduction of new technologies, including construction of five companies for the bread production, two refrigeration and storage facilities, animal farm, greenhouse complex, three poultry farms, meat processing company, etc.
The fund has allocated favorable loans worth 115 million manat to 1,430 entrepreneurs in 2010. About 5,600 new jobs will be opened thanks to these loans, whose great part fell to the country's regions. This year the Fund plans to issue loans worth 125 million manat on favorable terms.

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