NFES accepts investment projects on Agdash region's development
By Rashid Shirinov
Azerbaijan’s National Fund for Entrepreneurship Support (NFES) has started receiving investment projects on priority development areas of Agdash region, Azerbaijan’s Economy Ministry reported on October 23.
Following the business forum in the region, the NFES launched accepting entrepreneurs’ proposals for financing investment projects on creation of intensive gardening farms, livestock breeding, greenhouses, refrigerated warehouses and milk and rice processing plants.
Entrepreneurs can apply to the Fund through authorized credit organizations, in accordance with the rules for using the funds of the NFES. At the request of entrepreneurs, small projects can be fully financed through concessional loans.
The NFES, created in 1992, issues loans to entrepreneurs through authorized banks and non-bank lenders. During the first half of the year, the Fund contributed to the creation of 2,300 new jobs in Azerbaijan.
The main goal of NFES is to provide preferential loans from the state budget for small and medium business in order to develop entrepreneurship in the country.
In general, the Fund plans to allocate 150 million manats ($88 million) for granting preferential loans to entrepreneurs in Azerbaijan until the end of 2017.
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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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