BAKU, Azerbaijan, Oct. 21
By Zeyni Jafarov – Trend:
It is necessary to create a specialized bank in Azerbaijan - the Agrarian Bank of Azerbaijan, Milli Mejlis (Azerbaijan Parlament) deputy, doctor of economic sciences, professor Rufat Quliyev told Trend.
According to the deputy, the functions of this type of bank will include exclusively loans in the agricultural sector of Azerbaijan and the interest rates of loans should be minimal, and the term - maximum. It can be determined from five to seven percent or even less, and the payment period is from seven years and more.
Quliyev noted that in the era of a pandemic, the state is pursuing a new policy in this direction, in which, mainly for small businesses, a loan of 15,000 is issued and 60-70 percent of the collateral is provided by the state, that is, more than half. This leaves the borrower with less repayment.
"All steps in this direction have been taken, however, such programs must be implemented on a large-scale in all areas of the economy, and not only in certain sectors," concluded MP Rufat Guliyev.
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