BAKU, Azerbaijan, Nov. 7
By Fidan Babayeva – Trend:
The mechanism of agricultural insurance with state support was officially launched in Azerbaijan this week, Trend reports citing the Ministry of Agriculture.
"The agricultural insurance system in Azerbaijan was formed with the support of the Turkish organization TARSİM (agricultural insurance system). One of the most successful agricultural insurance mechanisms in the world is the Turkish model. Through agricultural insurance, farmers will be able to insure farm animals, sown areas and crop products, as well as aquaculture against risks on preferential terms. Today, the agricultural insurance mechanism is another manifestation of support for the agricultural sector by the state. We believe that as a result of this support, the welfare of farmers will improve. Agricultural insurance mechanisms will lead to an increase in investment in this industry," said the Minister of Agriculture of Azerbaijan Inam Karimov.
In addition, a demonstration row sowing of wheat was carried out in Azerbaijan this week. The row-seeding method, which differs from the traditional method, is widely used in a number of countries for the cultivation of vegetables, grains, fruits and legumes. This technology, first applied in Mexico and presented in Azerbaijan, has been tested by the Center for Agrarian Science and Innovation in various projects.
In the first week of November, the Association of Banks of Azerbaijan (ABA) and the International Finance Corporation (IFC), a member of the World Bank Group, held a webinar on the online platform on the impact of COVID-19 on agriculture and new opportunities.
IFC is implementing a consultancy project in partnership with the Swiss State Secretariat for Economic Affairs (SECO) to support sustainable development of agricultural business in Azerbaijan.
Also, the Agrarian Credit and Development Agency under the Ministry of Agriculture of Azerbaijan has prepared new packages of microcredits for farmers. According to the data, these microcredits are intended for agricultural care and the purchase of fertilizers. Microcredits are issued in the amount of up to 15,000 manats ($8,823), for a period of up to one year and with a rate of up to 12 percent.
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