Privileged Credits to be Granted to Farmers in Azerbaijan (video)
Azerbaijan, Baku / corr. Trend U.Ismaylova / The Agriculture Minister of Azerbaijan, Ismat Abbasov, stated on 21 May at the Azerbaijani-German economic business-forum that privileged credits will be granted to the agricultural producers from June.
According to the Presidential order dated 23 January 2007 on State support, AZN 80 mln has been allocated for the agricultural producers. Those who wish to acquire agriculturalequipmentmust make a 20% prepayment and pay off the balance within 10 years without any security. According to the Minister, the 2007 State budget has allocated AZN 40 mln for Agrolizing OSC. Agrolizing OSC was created by the Presidential Order dated 23 October 2004 to improve agrarian sphere and support entrepreneurship in the country by acquiring and provided with agricultural equipment to the farmers through leasing.
The Minister said that to acquire preferential leasing, the farmers must appeal to the local commissions before 1 June, after which time the documents will be forwarded to the regional commission before being forwarded to the Republic commission for confirmation. The farmers will then be entitled to receive the allocated amount (maximum amount of the leasing has not been confirmed yet) through a card system in the branches of the State Kapital Bank.