Azerbaijan, Baku, March 10 /Trend, U.Ismayilova/
In 2010, preferential loans in amount of $13.405 million manat were provided to 448 businesses and individuals in 40 regions of the country involved in the agricultural sector. The loans were provided by the State Agency for agricultural micro credits under Azerbaijani Agriculture Ministry through 10 authorized banks, government's report on results of 2010 said.
About 1,066 permanent and temporary jobs were created as a result of preferential loans.
Repayments on previous loans were fully secured last year and amounted to 3.405 million manat.
The Agency has been providing loans since 2007.
The micro loans at the expense of budgetary funds are provided up to 1,000 manat for two years, small loans - 1,000 to 20,000 manat, average loans - 20,000 to 50,000 manat for a period of three years, larger loans - 50,000 to 200 manat for five years. Lending rate is 7 percent.