Baku, Azerbaijan, Dec. 27
By Anvar Mammadov – Trend:
The National Fund for Entrepreneurship Support (NFES) of Azerbaijan has provided preferential loans worth 146 million manats to businessmen in the country in 2017, the Economy Ministry said in a message Dec. 27.
This accounts for 97.3 percent of the total preferential loans planned to be allocated by NFES in 2017.
These loans were granted to about 1,953 business entities for implementation of investment projects at a total cost of 635.6 million manats.
A major part (65 percent) of the allocated loans accounted for Azerbaijan’s districts, and the remaining 35 percent accounted for Baku. About 67.6 percent of the preferential loans were allocated for development of agriculture, and 32.4 percent of the preferential loans were allocated for development of manufacture and processing of various industrial products.
In 2017, 60 facilities, built through the allocated loans, were commissioned, while construction work continues at 40 more facilities.
At a business forum held Dec. 27 in Amirjan settlement of Surakhani District of Baku, entrepreneurs received preferential loans worth 8.8 million manats. These funds will be directed to creation of an agricultural park, a greenhouse complex, development of animal breeding, vegetable growing, poultry farming, production of windows and doors, and others. Implementation of these projects will create more than 200 jobs.
The NFES was established in 1992.
(1.7001 manats = $1 on Dec. 27)