Details added (first version posted on 11:40)
Baku, Azerbaijan, May 24
By Ilkin Shafiyev – Trend:
Azerbaijan’s agrarian sector should be provided with new financial products, Rufiz Chiragzade, representative of the World Bank’s (WB) Baku office, said.
Chiragzade made the remarks in Baku May 24 at the event dedicated to the signing ceremony of protocols of intentions between the State Service on Management of Agricultural Projects and Credits under the Azerbaijani Ministry of Agriculture, a number of Azerbaijani banks and non-bank credit organizations.
"Azerbaijan’s agricultural sector has great opportunities,” he said. “But certain issues should be solved to use these opportunities. One of such issues is to facilitate the business access to financial resources. Today, lending covers only a small part of the agricultural sector. The range of financial products for this sector is also limited. Azerbaijan’s agricultural business needs new financial products.”
On May 24, protocols of intent were signed between the State Service on Management of Agricultural Projects and Credits under the Azerbaijani Ministry of Agriculture and a number of Azerbaijani banks and non-bank credit organizations in Baku.
The protocols were signed by representatives of the International Bank of Azerbaijan, PASHA Bank, Kapital Bank, TuranBank, Rabitabank, Aqrarkredit CJSC, Finoko OJSC and Finance Invest OJSC.
The representatives of the World Bank, the International Finance Corporation, the Food and Agriculture Organization of the United Nations attended the signing ceremony.
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