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Second agropark to appear in Shamkir

21 February 2017 13:41 (UTC+04:00)
Second agropark to appear in Shamkir

By Rashid Shirinov

The National Fund for Entrepreneurship Support (NFES) of Azerbaijan has started to receive investment projects in priority economic spheres in Shamkir region.

The NFES, on the results of the business forum held in Shamkir region, decided to accept the proposals of entrepreneurs for financing investment projects on creation of an agropark, warehouses for storage of potatoes and onions, a mill, a complex for production of dried fruits, a greenhouse, and wine- and potato-growing farms.

An agropark founded in 2014 is already operating in Shamkir region. It includes a greenhouse complex, farms to grow seedlings, saplings and maintain intensive horticulture, plants for processing fruits and vegetables, factory for production of packaging, logistics and agricultural service center, refrigerated warehouse, sales centers, car park, center of research and innovation, hotel and various infrastructure enterprises.

Entrepreneurs can already apply to the Fund through authorized credit organizations. At the request of entrepreneurs, small projects can be fully financed at the cost of concessional loans.

The National Fund for Entrepreneurship Support was established in 1992. Loans are allocated to entrepreneurs through authorized banks and non-bank lenders.

The NFES issued concessional loans of 190 million manats ($106.5 million) for entrepreneurs during 2016. Meanwhile, 150 million manats ($84 million) is planned to be issued in 2017 through the Fund.

Allocation of soft loans is directed at countering the effect of the global economic crisis to the Azerbaijani economy and minimization of the country’s dependence on the oil sector by improving other industries throughout Azerbaijan.

Currently, Azerbaijan ranks 63 out of 189 countries in the World Bank’s ease of doing business index, and work to improve this index even more is being implemented.


Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

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