BAKU, Azerbaijan, Feb. 16
By Zeyni Jafarov - Trend:
The volume of lending to agriculture, forestry and fishing in Azerbaijan amounted to 566.2 million manat ($333.05 million) in 2020, Trend reports citing data from the Central Bank of Azerbaijan (CBA).
Lending to this sector increased by 22.8 million manat ($13.4 million) or 4.2 percent compared to 2019.
The long-term loans accounted for 494.7 million manat ($291 million) or 87.4 percent of the total lending volume to the sector which is by 26.2 million manat ($15.4 million) or 5.6 percent more compared to 2019. The loans worth 380.5 million manat ($223.8 million) were issued in national currency, $114.3 million in foreign currency.
The short-term loans in the sector of agriculture, forestry and fishery amounted to 36.5 million manat ($21.5 million) or 6.4 percent of the total lending volume to the sector. Some 26.1 million manat ($15.3 million) of that volume were issued in national currency, $10.4 million - in foreign currency.
The loans were mainly issued to the private institutions in the national currency, which amounted to 71.8 percent (406.6 million manat that’s $239.2 million) of the total lending volume to the sector. The transactions in foreign currency amounted to 124.7 million manat that’s $73.3 million (22 percent).
The share of lending to the agricultural sector in lending to the real sector amounted to 3.9 percent and this indicator increased by 0.3 percentage points compared to 2019.
In general, the volume of lending to the real sector in 2020 amounted to 14.5 billion manat ($8.5 billion), which shows a decline in annual terms by 767.8 million manat ($451.6 million) or five percent.
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