Nearly $27 mln allocated to Azerbaijani IDPs in preferential loans
By Aynur Jafarova
Some 188.6 million manats have been allocated this year to finance 2,327 investment projects through the National Fund for Entrepreneurship Support under the Azerbaijani Ministry of Economic Development, the ministry quoted Executive Director of the Fund, Shirzad Abdullayev, as saying.
Speaking at the event entitled "State support for the development of entrepreneurship", which was held in the Bilasuvar region of Azerbaijan on July 12 and attended by 100 entrepreneurs, Abdullayev said that the implementation of these projects will be conducive for the creation of over 7,700 new jobs.
During the event preferential loans worth 257,000 manats were allocated to 30 internally displaced persons (IDPs) from the Jabrail region who are doing business in Bilasuvar. The allocation of these loans is to facilitate the creation of 30 jobs.
"As of today more than 1,000 entrepreneurs who are IDPs have been allocated preferential loans worth 21 million manats (over $26.7 million), 2.2 million manats of which have been disbursed since the beginning of 2013 to 150 entrepreneurs. The implementation of these projects envisages the creation of up to 2,200 jobs," Abdullayev said.
In 2013 the National Fund for Entrepreneurship Support plans to allocate loans worth 250 million manats, with 150 million manats of the amount to be provided from the state budget funds.
The official exchange rate as of July 12 is 0.7845 AZN (manats) per USD.
The National Fund for Entrepreneurship Support was established in 1992. Loans are allocated to entrepreneurs through a total of 43 authorized banks and non-bank lenders.