The Azerbaijan State News Agency

ECONOMY

NEAF IMPROVES MONEY MANAGEMENT TECHNIQUE

19.08.2004 [15:16]
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A number of amendments made to money management rules allowed to improve the mechanism of distribution of the funds of the National Entrepreneurs Assistant Fund /NEAF/. Now, non-bank organizations are also involved in money operations of the NEAF. These actions resulted in rise in number of juridical persons and new jobs openings, Ministry of Economic Development reported.

40 billion manats out of scheduled 100 billion were allocated to entrepreneurs through authorized credit organizations. The investments projects for 50 juridical persons in Baku and over 600 in provinces were defined.

75 percent of the credit projects fall to the share of provinces. 90 percent of credit projects are production and processing-oriented.

The realization of credit projects in 2004 allowed opening over 4 thousand jobs.