Over 480 projects financed using soft loans in Azerbaijan in first quarter
Azerbaijan, Baku, April 25 / Trend A. Hasanov /
The National Entrepreneurship Support Fund financed 481 projects worth 49.13 million manat in the first quarter of 2012, the balance sheet of the fund, published in the official press, said today.
The implementation of these projects through the fund's soft loans will contribute to the creation of 2148 new jobs.
During the first quarter, the fund financed 26 projects in various spheres of industrial production and processing to the amount of 6.05 million manat. About 6.5 million manat was allocated to implement three projects in the field of the processing of agricultural products, 29.15 million manat for 443 projects in the agricultural production and 7.43 million manat for nine projects in the development of services.
The fund issued 453 small loans (94.2 per cent of total amount of loans) worth 5.52 million manat (11.2 per cent of the total portfolio of issued loans). Nine medium loans were issued during the reporting period (1.9 per cent) amounting to 1.92 million manat (3.9 per cent) and 19 big loans (four per cent) to the amount of 41.69 million manat (84.9 percent).
The fund was established in 1992. The loans are issued to entrepreneurs through authorised banks and non-bank credit organisations. Their total number is 38.
The official exchange rate is 0.7861 AZN/USD on April 25.