Azerbaijan, Baku, Dec 16 /Trend N.Ismayilova/
Priority area for funding by the National Entrepreneurship Support Fund (NFES) under the Ministry of Economic Development Ministry will be the development of the agricultural sector in 2012, NFES Shirzad Abdullayev Executive Director told reporters on Thursday.
"We are discussing specific projects in this area, which will be implemented in 2012. These, first of all, are projects to build livestock farms producing milk and meat, processing enterprises, export-oriented engineering companies," Abdullaev said.
Abdullayev noted that the fund will focus on financing small projects, including targeted support for low-income families, refugees and internally displaced persons in 2012.
"Beneficial financing of projects aimed at developing Baku villages will continue in 2012. Over 25 percent of total funding was allocated to these projects in 2011 and this rate will be maintained in 2012. Special weight of these projects could be increased," Abdullayev said.
NFES was established in 1992. The fund planned to finance the issuance of preferential loans worth 138 million manat in 2011, 34 million manat of which at the expense of state budget funds and other funds should be provided through the return of earlier loans. NFES has financed 1,626 investment projects worth 135.8 million manat since the beginning of 2011, 35 million manat of these funds allocated to the villages of Baku.
Official exchange rate on Dec 15 is 0.7863 AZN/USD