Over 80% of Concessional Loans Finance 2% of Projects
2017 November 01 ( Wednesday ) 16:09:38
Baku / 01.11.17 / Turan: The National Entrepreneurship Support Fund (NESF) provided 1,270 soft loans through authorized banks for a total of 96.5 million manat in January-September 2017. For the third quarter, the Fund allocated over AZN 33.3 million to over 600 entrepreneurs.
According to the NESF, this year 25 major projects have been financed (the need for soft loans is up to 10 million manat). The companies received 78.5 million manat of loans for these projects. This amounts to 81.3% of the total volume of the Fund"s loans this year.
For nine months, the NESF financed 36 projects for industrial production in the amount of 30.8 million manat and 5 projects for processing agricultural products for the amount of 2.5 million manat. Over 3.3 million manat of loans have been allocated for financing five tourism projects. The bulk of loans (1,221 projects, 58.6 million manat) is aimed at the production of agricultural products.
The NESF has twice conducted a tender to select an auditor of the financial statements for the coming year. However, each time the number of participants did not reach the required level - at least 3 applicants. -----08D