Baku, Fineko / abc.az. National Entrepreneurship Support Fund of Azerbaijan of the Ministry of Economic Development of Azerbaijan is completing the process of spending the State Budget assignments stipulated this year subsidized support of business sector.

NESF executive director Shirzad Abdullayev stated the Ministry of Finance had already made a request for the last tranche of funding from State Budget 2010.

"These days we expect to receive these finances (9 million manats). However, the balance at Fund’s accounts makes up to 35 million manats and there will not be a pause for subsidized lending,” Abdullayev said.

State Budget 2010 should allocate 44 million mantas to the NESF this year.

"In the 3rd quarter we plan to give soft loans for at least 45-50 million manats. For example, until 10 October we expect to extend credits in regions,” he said.

The Fund has already granted loans for 50 million mantas to 600 entrepreneurs this year.

20.07.2010 16:31