Azerbaijan can expand volume of concessional lending

Business Materials 6 March 2018 15:33 (UTC +04:00)

Baku, Azerbaijan, March 6

By Ilkin Shafiyev - Trend:

The National Entrepreneurship Support Fund of Azerbaijan (NFES) can expand the volume of concessional lending for 2018, the Fund’s Executive Director Shirzad Abdullayev said on March 6.

According to the 2018-state budget of Azerbaijan, it is planned to allocate soft loans of 170 million manats through the NFES this year.

"We have additional financing resources. That is, we, on our part, can expand financing up to 200 million manats in 2018. Everything depends on agreements between banks and entrepreneurs," Abdullayev said, adding that in case of necessity, the volume of concessional lending can be increased.

The NFES was established in 1992. During the period from 1992 to 2017, 34,600 entrepreneurs were granted 2.1 billion soft loans worth 4.5 billion manats.

(1.7001 manats = $1 on March 6)