World Bank Advises to Increase Investment in Azerbaijani Agriculture
Azerbaijan, Baku, 26 July / corr. Trend U.Ismayilova / Azerbaijan's agriculture field needs additional development, said Peter Thomson, the head of the World Bank (WB) Department on stable development of Europe and the Central Asia countries in Baku.
"This field requires additional investment. Especially, irrigation sector requires investment," Thomson said.
This sector needs additional investment to access to contemporary methods to deal with agriculture, which requires regular consultations with farmers. It is necessary to perfect rural roads to improve farmers' access to markets.
According to the head of the WB Department, farmers should have opportunities to get loans in different amounts with favorable terms.
"Easy access to the financial market for getting profitable loans is the key to the development of agriculture," Thomson said.
According to Elchin Bagirov, the chairman of the Azerbaijani Loan Union Association, there are problems in the field of issuing loans to farmers. These problems include misunderstanding of loan issue by some loan unions, misunderstanding of loan psychology by people, misunderstanding own business by loan unions.
The Government should extend the amount of subsidy for agriculture within the framework of ensuring food security in Azerbaijan. This method enables to stimulate local producers and to increase sowing not only for interior use, but also to enter the world market in future.
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