By Sara Israfilbayova
Azerbaijan’s National Fund for Entrepreneurship Support (NFES) is planning to finance the construction of a health complex in Gobustan district.
The complex will be financed through preferential loans issued by the Fund in the framework of a business forum.
In total, the Fund allocated 1.5 million manats to entrepreneurs from this region. These funds will be used to develop livestock farming, aviculture and other areas.
Executive Director of NFES Shirzad Abdullayev informed that preferential loans the Fund issued since the beginning of the year amount to 25 million manats, which allows to create 700 new jobs.
Abdullayev added that in general entrepreneurs of the Mountainous-Shirvan economic region, which includes Gobustan district, received 69 million manats for the implementation of almost 2 ,000 investment projects.
About 150 million manats will be issued for granting preferential loans to entrepreneurs in 2017.
The Fund, established in 1992, issues loans to entrepreneurs through authorized banks and non-bank lenders.
Allocation of funds by NFES is aimed at the mitigating of the impact of global economic crisis to the national economy and minimization of its dependence on the oil sector. The country takes steps in its bid to diversify the national economy and provide for the development of entrepreneurship in the country.
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