Minister: 75 per cent of soft loans in Azerbaijan fall to regions
Azerbaijan, Baku, Feb. 29 / Trend A.Akhundov /
Soft loans worth 138 million manat were given to 1643 entrepreneurs in 2011 through the National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Ministry of Economic Development, Azerbaijani Economic Development Minister Shahin Mustafayev said at a conference on the outcome of the 3rd year of the implementation of the 'State Program of Socio-Economic Development of Regions of Azerbaijan in 2009-2013'.
"Through these loans creation of up to 6,500 new jobs is envisaged. 75 percent of loans falls to regions," Mr Mustafayev said.
He said due to soft loans of NFES construction of 23 poultry plants, five livestock farms, 14 cold storage rooms and warehouses, 13 greenhouses, five milk processing plants, three meat processing plants, four canneries and eight grain factories and other enterprises is underway in the country.
"In 2011 33 manufacturing, processing, infrastructure companies, financed by soft loans were commissioned. In 2012, commissioning of 96 such enterprises is expected," Mr Mustafayev noted.
The official exchange rate is 0.7861 AZN to $1 on Feb. 29.