Azerbaijan issues preferential loans to businessmen for agribusiness, industry
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By Trend
Azerbaijan’s National Fund for Entrepreneurship Support has provided businessmen involved in agricultural production with preferential loans worth 58.64 million manats (60.7 percent) in January-September 2017.
According to the Fund’s report published in ‘Azerbaijan’ newspaper Nov. 1, the Fund financed 1,221 projects in agricultural production.
Moreover, 30.85 million manats (32 percent) were allocated by the Fund for the implementation of 36 projects in production and processing of various industrial products.
The Fund issued preferential loans worth 3.35 million manats (3.5 percent) for two projects in the tourism sector. Moreover, the fund contributed to the creation of 3,880 new jobs in January-June 2017.
During the reporting period, the fund issued mainly big loans, that is, 81.3 percent of all issued loans, followed by small loans (13.9 percent) and average loans (4.8 percent).
Moreover, 150 million manats are planned to be allocated through the Fund in 2017.
Azerbaijan’s National Fund for Entrepreneurship Support was established in 1992.
The official exchange rate for November 1 is 1.7003 AZN/USD.
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