Azerbaijan, Baku / corr. Trend I.Khalilova / Up to now, privileged loans amounting to AZN 5.6 mln have been granted by the National Fund for Entrepreneurship Development of Azerbaijan (NFED) to finance the investment projects of entrepreneurs, the Ministry of Economic Development of Azerbaijan informs.
NFED granted loans to 53 entrepreneurs in 21 cities and regions, although 332 entrepreneurs have appealed to NFED.
More than 73% of the financed projects are located in the regions. The privileged loans have been given for the production of industrial products, manufacturing and processing of agricultural products, development of tourism infrastructure and the service sector, etc.
The micro and small loans are granted for a period of up to two years, middle - three years, large-amount - five years, huge-amount - seven years. The budget allocated AZN 80 mln for National Fund for Entrepreneurship Development. AZN 15 mln has already been transferred to the account of the Fund.