Baku, Azerbaijan, May 23
The National Entrepreneurship Support Fund (NFES) under the Azerbaijan Economy Ministry began to accept investment projects in the priority areas of development of the Sabirabad region, the Economy Ministry said in a message on May 23.
Following a business forum, the NFES considered it expedient to begin accepting investment projects to establish farms for soybean, lentil and pea crops production, large-scale farming, intensive gardening, cotton-growing, greenhouse complexes and a complex of livestock breeding, fruit and milk processing enterprises, production of bread and spices, enterprises for production of plastic containers and plastic doors and windows.
Under the rules for use of the NFES funds, entrepreneurs can apply to the Fund through authorized credit institutions. Upon request of entrepreneurs, small projects can be fully financed through concessional loans.
NFES was established in 1992. The loans are issued to entrepreneurs through authorized banks and non-bank credit organizations, the total number of which is 54.
In 2017, 146 million manats were allocated through the National Fund for Enterprenuership Support. In 2018, according to the NFES, it is planned to provide concessional loans for a minimum amount of 170 million manats.
(1.7 AZN = 1 USD on May 23)