Azerbaijani farmers, entrepreneurs continue obtaining incentives
BAKU, Azerbaijan, Apr.28
By Samir Ali - Trend:
The process of granting incentives to Azerbaijani farmers and entrepreneurs is underway, Head of the Public Relations Department of the Ministry of Agriculture Vugar Huseynov told Trend on April 28.
According to him, for this aim the state issues subsidies to them, for acquiring agricultural machinery and cattle.
"When giving the agricultural machinery for lease to a farmer, the state pays him a subsidy of 40 percent of the machinery’s primary cost. In order to purchase it, the farmer makes an advance payment of 20 percent, and the remaining 40 percent is given to the farmer as a bank loan. The loan interest of up to 7 percent imposed by the bank is subsidized by the state," he said.
“The state subsidies for buying cattle were increased from 50 percent through 60 percent,” Huseynov also noted. "The remaining 25 percent is paid by a citizen in advance, and 15 percent are issued by banks as a loan."
He added that owing to the ongoing reforms, the base of agricultural machinery and cattle will grow and be constantly updated.