Azerbaijan, Baku, Oct. 16 / Trend , N.Ismayilova /
The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry plans to exceed the maximum scheduled amount of credits in 2011 for the first time since its operation, NFES Executive Director Shirzad Abdullayev told Trend on Saturday.
"The Fund planned to finance preferential loans worth 125 million manat in 2011. However, we are considering the possibility of attracting additional funds for lending due to the increased number of appeals by businessmen," he said.
To date, the NFES issued 1,314 loans worth 108 million manat to entrepreneurs.
"The Fund has provided 30 million manat to support small and medium enterprises in the villages of Baku during the five months and we will direct a significant portion of resources for continued funding of these projects by late 2013," he said.
The State Program of Social and Economic Development of Baku and its suburbs in 2011-2013 was approved by Azerbaijani President Ilham Aliyev on May 4, 2011.