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Azerbaijani President’s Reserve Fund spends AZN 147 mln for fulfillment of social and infrastructure projects, this year

25 October 2011 08:57 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. In January-September, 2011, AZN 147 mln was allocated from President’s Reserve Fund of Azerbaijan to fulfillment of several social and infrastructure projects, as well as AZN 30 mln â€“ to works on strengthening and continuation of socio-economic development, reconstruction and renovation of the regions, Finance Minister Samir Sharifov said at the Cabinet meeting, devoted to outcomes of socio-economic development of the country in 9 months of 2011.

To him, during the reporting period, AZN 106 mln soft loan was given to 1,287 business subjects on different spheres of economy. Of these, AZN 34 mln came from the funds from state budget. 74% of soft loans fall on share of regions, 26% - Baku districts.

â€œNumber of investment projects increased by 27%, preferential loans â€“ by 31%, newly-launched work places â€“ by 37%, during the same periodâ€, Sharifov said.

Minister also noted that, AZN 35 mln was allocated to Agrolizing OJSC for lending to farmers, improvement of leasing services, purchasing of agricultural techniques and agrochemical substances, AZN 10 mln â€“ to State Agency on Agriculture Loans under the Ministry of Agriculture for lending to agricultural products producers: â€œAZN 453 mln has went to NESF, AZN 318 mln â€“ to Agrolizing, AZN 40 mln - State Agency on Agricultural Loans since they started operationâ€.

Sharifova also added that, +80 establishments, as well near 30 industrial institutions were constructed and put into operation. Near 200 enterprises, including near 80 industrial enterprises are being constructed.