BAKU, Azerbaijan, Feb. 18
By Sadraddin Aghjayev - Trend:
The Agrarian Credit and Development Agency under the Azerbaijani Ministry of Agriculture issues soft loans to small and medium-sized enterprises (SMEs) in the amount of up to one million manat ($588,235), Deputy Chairperson of the Board of the Agrarian Credit and Development Agency under the Azerbaijani Ministry of Agriculture Leyla Mammadova said during a conference entitled "Innovative activity of SMEs during the stabilization of economic growth in the post-COVID-19 pandemic", Trend reports.
Mammadova said that the preferential microloans in the amount of up to 15,000 manat ($8,823) are issued to businessmen for a period of three years without collateral.
“Moreover, our agency allocates preferential loans to the businessmen working in micro-businesses in the amount of up to 30,000 manat ($17,647) for a period of three years, as well as to the businessmen working in medium-sized businesses - up to 100,000 manat ($58,823),” deputy chairperson added. “The agency also issues long-term loans for a period of five years in the amount of up to 200,000 manat ($117,647) to the businessmen working in medium-sized businesses while to big enterprises for the purchase of equipment and machinery - up to one million manat ($588,235).”
The Agrarian Credit and Development Agency under the Ministry of Agriculture has paid subsidies worth 61.8 million manat ($36.3 million) to 159,500 farmers this week for the autumn crops of 2021-2022.
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