BAKU, Azerbaijan, June 26. The Agency of Agrarian Credit and Development under the Ministry of Agriculture of Azerbaijan issued preferential loans totaling 31.7 million manat ($18.6 million) from January through May 2023, Trend reports.
The agency notes that 2,156 individuals and legal entities received loans in general.
The Agency for Agrarian Credit and Development under the Ministry of Agriculture of the Republic of Azerbaijan was established in accordance with the Decree No. 467 "On measures to improve management in the agricultural sector" by the President of the Republic of Azerbaijan Ilham Aliyev on October 23, 2004.
The agency ensures the attraction and use of loans for their intended purpose in order to provide state support to individuals and legal entities engaged in entrepreneurial activities in the agricultural division.
The agency's activities cover the following areas: the provision of agricultural loans on preferential terms, benefits for equipment and breeding animals, and also, preferential loans, guarantees, subsidies to farmers, project management, and attracting investment in agriculture.
