BAKU, Azerbaijan, Dec.3
By Zeyni Jafarov - Trend:
The volume of lending to agriculture, forestry, and fishing sectors in Azerbaijan amounted to 552.2 million manat ($325 million) as of Nov. 1, 2020, Trend reports citing data from the Central Bank of Azerbaijan (CBA).
The CBA said that lending to agriculture increased by 31.4 million manat ($18.48 million) or 6 percent compared to the same period last year, and by 11.9 million manat ($7 million) or 2.2 percent compared to early 2020.
Some 487 billion manat ($286.6 million) or 88.2 percent accounted for long-term loans, and this figure is 18.5 million manat ($10.9 million) or 3.9 percent more compared to the beginning of November last year. Loans worth 370.8 million manat ($218.2 million) were issued in national currency, and 116.2 million manat ($68.4 million) fell to the foreign currency.
The number of short-term loans issued for agriculture, forestry, and fishing sectors made up 36.2 million manat ($21.3 million) or 6.5 percent of total respective loans. Of these, 23.2 million manat ($13.6 million) were issued in national currency and 13 million manat ($7.6 million) in foreign currency.
The loans were mainly provided to private institutions in national currency, accounting for 71.35 percent (394 million manat, or $231.9 million) of the total amount of loans to the agriculture, forestry, and fishing sectors. The operations carried out in foreign currency were estimated at 129.2 million manat ($76 million).
The share of lending to the agricultural sector in lending to the Azerbaijani real sector amounted to 3.7 percent and compared with a year earlier, this figure increased by 0.1 percent points.
In general, the volume of lending to the Azerbaijani real sector amounted to 14.78 billion manat ($8.7 million) as of November 1, 2020, showing annualized growth of 340.1 million manat ($200.18 million) or 2.35 percent.
(1 USD = 1.7 manat on Dec.3)
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