Azerbaijan allocates over 50% of preferential loans to develop cotton growing
Baku, Azerbaijan, Jan. 18
By Azad Hasanli – Trend:
As of the end of 2017, preferential lending by the State Service for Management of Agricultural Projects and Credits under the Ministry of Agriculture of Azerbaijan totaled 9.5 million manats, Zaur Aliyev, deputy head of the state service, said in his article published in the Respublika newspaper.
He said that these loans were allocated to 57 entrepreneurs in 30 districts of Azerbaijan.
As many as 5.06 million manats were allocated for projects in the cotton growing, 2.975 million manats were allocated for projects in animal breeding, 600,000 manats were allocated for projects in potato growing, he said.
This is while 20,000 manats were allocated for projects in horticulture, 100,000 manats were allocated for projects in flour processing, and 570,000 manats were allocated for creation of greenhouses, he added.
Zaur Aliyev said that loans worth 640,000 manats were also allocated within international projects in 2017.
The allocated preferential loans made it possible to create 298 temporary and permanent jobs, he added.
(1.7001 manats = $1 on Jan. 18)