Agricultural equipment purchase mechanisms changing in Azerbaijan
Baku, Azerbaijan, Feb. 6
By Sara Israfilbayova – Trend:
From February 15, agricultural machinery in Azerbaijan will be sold under new regulations, the Ministry of Agriculture told Trend.
The ministry noted that the preferential sale of agricultural machinery will be carried out not only by OJSC "Agroleasing".
"About 20 percent of the customs cost of equipment will be paid by the farmer, and 40 percent by the State Agency for the Agricultural Credits as a subsidy," the ministry said.
The ministry also noted that the remaining part of the amount will be issued in the form of a loan for a maximum of five years, with the bulk of the loan being paid by the farmer, and the interests by the state.
"Previously, benefits were applied only to equipment purchased from Agroleasing, and now they will also apply to equipment acquired in any other company," the ministry said.
The ministry noted that the paperwork was also carried out at Agroleasing; from now on, however, after acquiring the equipment from any company, the clearance will be carried out at authorized banks, not Agroleasing.
"The farmer will be responsible not to Agroleasing, but the bank," the ministry said.
The possession of loan tracking mechanisms by the banks, and lack thereof by Agroleasing, was named by the ministry as the primary reason for such changes.
Follow the author on Twitter: @IsrafilbekovaS