Azerbaijan, Baku, 18 February / Trend corr. U.Ismailova / Non-credit organization Agrarian-credit brought its credit portfolio to AZN 15mln, Mammad Musayev, the chairman of the company, stated during a press conference.
"Under the approved strategic plan for next five years, our portfolio will be brought to AZN 95mln," Musayev said.
Agrarian-credit assets totalled AZN 25mln in 2007. The authorized capital of the organization made up AZN 18.5mln.
Agrarian-credit is the partner of the National Fund for Entrepreneurship Support. The organization allocated credits in the sum of AZN 4.5mln from 2004 to 2007 and AZN 1.5mln for 2007.
The organization provides leasing services to the rural population on agricultural equipment. In 2007, the organization allocated around 1,000 equipment totalling $17mln through a grant from a Japanese company.
The Azerbaijani Finance Ministry is the main shareholder of the Agrarian-credit, which has 99.9% credits of the credit organization. The balance of the shares is equally divided amongst the state insurance organization of Azersigorta and Land-reclamation and the water agriculture company.
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