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Preferential lending to businesses doubles in Azerbaijan (UPDATE)

Business Materials 25 May 2018 17:56 (UTC +04:00)

Details added (first version posted on 15:21)

Baku, Azerbaijan, May 25

By Ilkin Shafiyev - Trend:

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Ministry of Economy issued preferential loans worth 72.2 million manats in January to April 2018, NFES Executive Director Shirzad Abdullayev told reporters in Baku May 25.

Abdullayev noted that these funds were allocated for lending for the projects with a total cost of 392 million manats, which is twice as much as in the same period of 2017.

The total value of projects receiving preferential loans has increased six times, he added.

“Over this period, we have ensured implementation of more than 10 new investment projects,” Abdullayev said. “They include agricultural parks, poultry farms, livestock complexes and other facilities that will be commissioned before the end of the year.”

In general, it is planned to commission 42 production and processing facilities by the end of the year, he added.

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