Entrepreneurship Support Fund no longer to receive funds from Azerbaijan’s budget

17:07 - 18.02.2019


February 18, Fineko/abc.az. The Ministry of Economy of Azerbaijan reports about the effectiveness of activity and further development of the National Entrepreneurship Support Fund (NESF).

Economy Minister Shahin Mustafayev stated that since the beginning of its activity NESF received about AZN 1 bn from the State Budget, due to which it gave loans for AZN 2.25 bn.

"Today the NESF portfolio totals AZN 1.6 bn and for the last 3 years its loans are given at the expense of the repaid finances that testifies about the efficiency of the process. According to our forecasts, in the coming years the Fund will allocate AZN 160-170 million and sometimes even AZN 180 million at the expense of the repaid loans and there will be no need to receive funds from the State Budget," the minister said.

 

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