Baku. 22 February. REPORT.AZ/ The Azerbaijan National Fund for Entrepreneurship Support (ANFES) allocates significantly more funds to large projects than to small ones.
It was revealed afterEstimations by Report News Agency revealed.
Such as, last year the ANFES allocated 157.652 mln AZN soft loans to 41 large projects. Which means average 3.845 mln AZN allocation for one project.
Last year ANFES allocated 8.89 mln AZN for 34 medium sized projects (average 261.5 thousand AZN per project) and 22.878 mln AZN for 2 402 small projects (average 9.5 thousand AZN per project).
In other words, the Fund allocated 14.7 times more money to average large project in comparison with its allocation to average medium sized project and 404.7 times more in comparison with allocation to average small project.
Notably, large loans amounted 83.2% in NFES’s credit portfolio last year. Remaining 16.8% were given to small and medium sized projects. Large enterprises benefit more from loans of NFES, which is in contrast with its mission to support small and medium enterprises.
Report was told in the Ministry of Economy that 97% of supported projects in reporting year include small enterprises. Whereas 4/5 part of funds were given to large enterprises.