Azerbaijan reveals volume of soft loans provided to entrepreneurs
By Trend
The National Fund for Entrepreneurship Support (NFES) of Azerbaijan has provided preferential loans worth 50 million manats to businessmen since early 2018, the Azerbaijani Economy Ministry said March 30.
The investment projects implemented by using allocated loans will make it possible to create more than 5,100 new jobs.
As part of a business forum held in the Upper Zeykhur village of Gusar district, entrepreneurs received preferential loans worth 1.2 million manats. The funds will be allocated to the development of animal breeding, horticulture and the construction of a logistics center.
In general, entrepreneurs of Guba-Khachmaz economic district have received preferential loans worth 189.1 million manats so far.
It is planned to allocate soft loans of 170 million manats through the NFES this year, the Fund’s Executive Director Shirzad Abdullayev told Trend earlier. However, the NFES can expand the volume of concessional lending for 2018, he added.
"We have additional financing resources. That is, we, on our part, can expand financing up to 200 million manats in 2018. Everything depends on agreements between banks and entrepreneurs," Abdullayev said, adding that in case of necessity, the volume of concessional lending can be increased.
The NFES was established in 1992.
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