AZN 5.6mln preferential loan lent to 53 enterprises in Azerbaijan

AZN 5.6mln preferential loan lent to 53 enterprises in Azerbaijan
# 15 May 2007 16:54 (UTC +04:00)
The National Fund for Assistance to Enterprise Development has lent a total of AZN 5.6 million in preferential loan to 53 enterprises in 21 regions through the authorized banks against 332 applications for loan during January-April. The allocated loans will finance production of industrial products, agricultural goods, tourism and other infrastructural projects.
For the full year of 2007, AZN 80mln are earmarked from the State Budget for the development of enterprises in Azerbaijan.
Economic Development Ministry told APA that AZN 74mln will be on-lending to enterprises through National Fund for Assistance to Enterprise Development and AZN 6mln to development of enterprises in Nakhchivan AR.
Through NFAED a total of AZN 90.1mln preferential loan was lent to 1,771 enterprises in 59 cities and regions in 2006. The loans were targeted to finance projects in industrial production, rural development, tourism, services etc.
Presidential decree dated December 28, 2006 improved and simplified the lending machinery. /APA-Economics/

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