Azerbaijan, Baku, Nov. 1 /Trend E. Aliyev/
In January-September 2013 the National Fund for Entrepreneurship Support (NFES) under Azerbaijani Ministry of Economy and Industry funded some 3,527 projects worth 245.2 million manats, according to the balance sheet of the NFES published on Friday in the official press.
According to the report, realization of these projects through NFES soft loans will contribute to the creation of 10,168 new jobs. It is envisaged that 71.4 per cent of the new jobs will be created in the sphere of agricultural production.
During January-September the NFES financed 142 projects in various spheres of production and processing of industrial products, for a total of 82.13 million manats. Some 32.67 million manats were allocated for the realization of nine projects in the agricultural products processing spheres, and some 122.91 million manats were allocated for 3,369 projects in the sphere of agricultural production.
During the reporting period, the National Fund granted 3452 small loans (97.9 per cent of total loans) worth 41.86 million manats (17 per cent of the total loan portfolio). During the reporting period, some 57 large loans were granted (1.6 per cent) in the amount of 200.72 million manats (81.9 per cent).
In 2013, the National Fund plans to grant loans worth 250 million manats, 100 million manats of which will be provided through the repayment of loans, and the remaining 150 million manats - through the state budget.
The NFES was established in 1992. Loans are granted to entrepreneurs through authorized banks and non-bank credit organizations, the total number of which is 44.
The official exchange rate of Nov. 1 is 0.7844 AZN/USD.