Baku, Azerbaijan, Dec. 27
By Anvar Mammadov – Trend:
Development of small business will be the main direction of preferential lending by the National Fund for Entrepreneurship Support (NFES) of Azerbaijan, the Economy Ministry said in a message Dec. 27.
Next year it is also planned to pay attention to the creation of agricultural parks, cattle breeding and greenhouse complexes, large horticultural farms, logistics centers, and meat processing points.
In addition, creation of facilities for production of bread and building materials and for processing of fruit and vegetable products is also among the priorities of the NFES.
The NFES provided preferential loans worth 146 million manats to businessmen in the country in 2017. The 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.
(1.7001 manats = $1 on Dec. 27)