Review of Azerbaijan's agricultural financing in July 2020
BAKU, Azerbaijan, Aug.1
By Fidan Babayeva - Trend:
Agrarian Credit and Development Agency started introducing modern irrigation systems in Azerbaijan to achieve high efficiency of agricultural production without wasting water in late July, 2020, the agency’s chairman Mirza Aliyev told Trend.
Mirza Aliyev said Azerbaijani President Ilham Aliyev’s order on measures to finance the benefits which are given to agricultural producers through the state budget will become another incentive to expand the introduction of modern technologies in the agricultural sector and increase the efficiency of agricultural production.
Moreover, last week 20 million manat ($11.8 million) were allocated from the president’s reserve fund and the state budget for each of these purposes upon the president’s order to meet the need for funds arising in connection with the need to use agricultural machinery, technological equipment and irrigation systems.
In particular, 40 million manat ($23 million) was allocated to the agency.
In late July, the terms for small loans in tea growing and horticulture changed, increasing from 3 to 5 years, for medium-sized loans - from 5 to 7 years, half of the loan term is set as a grace period.
Besides, the Institute of Botany of the Azerbaijan National Academy of Sciences (ANAS) has conducted research to introduce quinoa into Azerbaijan's agriculture
At the beginning of the last week of July, Chairman of the Persimmon Producers and Exporters Association Gadir Yusifov informed about drop in export of persimmons from Azerbaijan in the first half of 2020. The export volume amounted to 17,947 tons, which is 30 percent less than the same period of last year.
At the beginning of the week Chairman of the Azerbaijan Beekeepers Association Badraddin Khasratov told about suspension of bee products export from Azerbaijan to Japan. Thus, Azerbaijan exported to Japan about six to eight tons of honey, and it was planned to bring this figure to 100 tons. However, due to some details related to the documentation, the export has been suspended.
(1 USD = 1.7 AZN on Aug.1)
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