National Fund for Entrepreneurship Support named plans for 2014
The National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan plans to keep level of preferential crediting of business at current level in 2014.
NFES head said that Shirzad Abdullayev at least 250 million manat will be directed for preferential financing of entrepreneurship projects in 2014.
Over 245 million manat worth of preferential loans were issued to the entrepreneurs through the National Fund since early 2013.
According to Abdullayev, the financing is directed to implementation of investment projects on the priority areas of the national economy.
"Some 63.8 per cent of the total number of projects is related to the agrarian sector and 36.2 percent covers the production and processing of industrial products," he 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 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.