Azerbaijani National Fund for Entrepreneurship Support accepts projects in Gazakh district

Wed 14 Feb 2018 13:02 GMT | 17:02 Local Time

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The National Fund for Entrepreneurship Support under Azerbaijan’s Economy Ministry has started to accept investment projects on priority areas of the development of Azerbaijan’s Gazakh district, the Azerbaijani Economy Ministry said in a message Feb. 14.

Following the business forum, the National Fund for Entrepreneurship Support considered it expedient to start to accept investment projects for the establishment of potato farms, as well as livestock breeding and bee farms, meat-cutting and milk processing enterprises, Trend reports. Moreover, investment projects are being accepted to build a hotel.

According to the rules of using the funds of the National Fund for Entrepreneurship Support, entrepreneurs can apply to the Fund through authorized credit institutions. At the request of entrepreneurs, small projects can be fully financed through concessional loans.

The National Fund for Entrepreneurship Support was established in 1992. The loans are issued to the entrepreneurs through authorized banks and non-bank credit organizations, the total number of which is 59.

In 2017, 146 million manats were allocated through the National Fund for Entrepreneurship Support. In 2018, soft loans worth 170 million manats are planned to be issued through the National Fund for Entrepreneurship Support.

(1.7001 AZN = $1 on Feb. 14)

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