Azerbaijani Ministry of Finances opens financing for the National Fund of Entrepreneurship Support
Azerbaijani Ministry of Finances has opened financing for the National Fund of the Entrepreneurship support, the Azerbaijani minister of the Economic Development, Heydar Babayev told Trend . The Ministry has provided 25-30% from the budget total capacity ($100m). This is the first trench from the finances allocated by the state budget.
National fund has addressed the banks in the country to distribute the resources and present the projects for the program
The project will be later submitted for ratification to the Head of the State.
Changes will be introduced into the crediting practice i.e. most part of the credits will be allocated via big banks, not small ones as previously. Minister considers this policy as a correct one.
A limit for the business crediting will be introduced according to the new project. It will depend on the bank `s founding capital, its place and weight at the local market. Ministry is planning to include into the project all banks of the country, though the big ones will play the most vital role.