Azerbaijani NFES to increase number of agents
Azerbaijan, Baku, Aug. 17 / Trend N.Ismayilova /
The Azerbaijani Economic Development Ministry's National Fund for Entrepreneurship Support (NFES) will intensify efforts towards increasing the number of its agents in 2012, NFES Executive Director Shirzad Abdullayev said today.
"We are interested in increasing the number of credit institutions, the fund's agents and have regular discussions with the banks. The main issue in this direction is to study their activities and presence of risk," Abdullayev said.
He said the NFES plans to increase the number of agents - non-bank credit institutions in the future.
To date, the Fund's authorized credit organizations are 31 banks, one non-bank organization and seven credit unions.
In 2011, the NFES issued 1,102 loans amounting to 92.1 million manat. The loans covered 57 major projects, while 77.4 million based on the introduction of new technologies and 1,045 small projects in the amount of 14.7 million manat.
The NFES was established in 1992. The issuance of loans to entrepreneurs is carried out through the authorized banks and non-bank lenders, whose total number is 39.