Azerbaijan entrepreneurs receive favorable loans worth 15.5 million manat since early 2011

The Azerbaijani Economic Development Ministry's National Fund for Entrepreneurship Support (NFES) since early 2011 issued favorable loans worth 15.5 million manat to 154 entrepreneurs, NFES Executive Director Shirzad Abdullayev told journalists.

"A number of industrial enterprises will be built at the expense of favorable funding of the introduction of advance technologies," Abdullayev said.

According to him, at the expense of the allocated funds 15 new production and processing infrastructure sites, including five plants for bread making, four cooling chambers, a livestock complex, an enterprise for the production of edible oils, a shop for processing (cutting) of meat products, a hotbed, a furniture factory and a factory for paper production will be built.

Abdullayev also said that since early 2011, the Fund has allocated small loans totaling $ 1.7 million manat to139 entrepreneurs.

This year the Fund plans to issue loans worth 125 million manat on favorable terms. In particular, it is expected to finance loans totaling $ 91 million manat due to return of earlier allocated loans, while 34 million manat will be allocated from state budget.


/Trend/