Azerbaijani entrepreneurs get favorable loans worth 220,000 manat

Azerbaijani entrepreneurs get favorable loans worth 220,000 manat

Azerbaijan, Baku, April 2 / Trend, N.Ismayilova /

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry issued favorable loans totaling 220,000 manat to 19 entrepreneurs of the Agsu and nearby regions, the ministry said.

About 40 new job places will be opened at the expense of these funds. The event was held with the participation of about 250 entrepreneurs in the Agsu region.

Participants got familiarized with the modern grain storage complexes with a capacity of 24,000 tons, which are being constructed by "Bismak Qida Senaye Kompleksi" in the Ismayilli region, as well as similar complexes with a capacity of 10,000 tons in Gobustan.

In accordance with the previously determined priority areas for preferential financing of projects in the region, the event presented projects on planting vineyards with modern technologies and opening of modern plant for meat cutting with a capacity of 5 tons per year.
In 2011, the NFES issued 323 loans amounting to 27.3 million manat. The loans covered 25 major projects, while 23.7 million based on the introduction of new technologies and 298 small projects in the amount of 3.6 million manat.

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.
The official exchange rate is 0.7926 manat to $1 on April 1.

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