Azerbaijan starts issuing favorable loans to entrepreneurs

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry issues favorable loans totaling 263,000 manat to 25 entrepreneurs of  Lankaran region and nearby regions, the ministry said.

Over 70 new job places will be opened at the expense of these funds. The event was held in the Lankaran city with the participation of about 300 entrepreneurs and became the first such kind of event of NFES in 2011.

During the event, participants got familiarized with the process of construction of cattle-breeding complex for 2,400 cattle by "Hacı Camalxan" company, planting orchards of "Aladdin Fermer" at 168 hectares, "Okean-S Kendli Fermer Teserrufatı" with annual capacity of 300 tons of poultry meat, "Celilabad-Broyler" with a capacity of 6,000 tons of poultry meat a year, refrigerating warehouse"A.D.İ" with capacity of 2,000 tons and a tinned food factory "Lenkəran-Konserv" with annual capacity of 2,700 tons.

Presentation of projects on the development of intensive gardening and poultry farming was held within the event in accordance with the Lankaran region's previously determined priority spheres for projects' favorable funding.

Over the past two years the Fund has financed 112 investment projects, based on introducing advanced technologies in the Lankaran region, implementation of 56 of which have already been completed.

Since early 2010, the fund has allocated favorable loans worth 115 million manat to 1,430 entrepreneurs. About 5,600 new jobs will be opened thanks to these loans, whose great part fell to the country's regions.


/Trend/