Azerbaijan, Baku / corr. Trend S.Babayeva / The State Agency for Agricultural Credits of the Agriculture Ministry of Azerbaijan will begin granting credits from July, stated the Minister of Agriculture, Ismat Abbasov, on the 13th of June. According to the minister, there are many applications for receiving credits. Some AZN 5 mln is planned to be spent on these goals.
"I consider, firstly, that the credits should be granted to the agricultural producers, resulting in an increase of production," the Minister said.
Abbasov stressed that the credits will be granted after the resolving of several organizational issues.
According to the decree of the Cabinet of Ministers of Azerbaijan, the credits may be used in the following ways:
- production and processing of the agricultural products;
- improvement of the melioration of irrigation lands;
- provision of irrigation equipment;
- modernization and development of the sector of foodstuffs;
- purchase of agricultural equipment and chemical substances;
- pilot projects of the Agriculture Ministry;
- telegenesis in livestock.
Micro-credits will be granted in the amount of AZN 1000 for two years, small credits - AZN 1000-20.000, medium credits - AZN 20.000 - 50.000 for three years and large credits - AZN 50.000-20.000 for five years.