Azerbaijan announces selection of non-bank credit organizations for financing agriculture
Azerbaijan, Baku, Feb. 22 / Trend N.Ismayilova /
State Agency for Agricultural Lending under the Ministry of Agriculture of Azerbaijan under the project "Integrated development of rural areas" announced selection of non-bank credit institutions (NBCI) for lending farmers and small and medium-sized enterprises, the Agency said on Wednesday.
The project is implemented through a loan from the International Fund for Agricultural Development (IFAD) and the Islamic Development Bank (IDB).
Non-bank credit organizations operating in Agdash, Yevlakh, Sheki and Oguz districts of Azerbaijan are invited to participate in the tender.
Non-bank credit institutions, according to the conditions of the tender will be required to provide loans to small and medium business entities as well as private individuals and groups to rent the equipment for agribusiness and agricultural production, procurement, purchase of marketing tools, as well as the acquisition of transportation services.
Applicants must meet the following minimum criteria: to have state registration and license of the Central Bank of Azerbaijan on the activity, presence of small agricultural enterprises among the active clients in the loan portfolio and the high share of agricultural sector loan, the amount of overdue loans [in the period of default beyond 30 days] shall not exceed four percent, and loans written off - two percent of organization's loan portfolio, the availability of work experience for credit procedures, the independent auditor's report, as well as the possibility of self-financing or the financing of its operating expenses during 2012.
The deadline - March 19 at the following address: Baku, Hajibeyov str, 40, Government House, Room 804.
Phone: 493-46-93, fax: 498-13-95. E-mail: [email protected]
The IDB allocated for the implementation of the project $65.6 million, IFAD - $19.7 million, and the rest will be financed by the government. The total project cost is $102.8 million.