BAKU, Azerbaijan, May 6. Currently, our strategic goal is to transition from subsidies for planting to subsidies for production, Yalchin Jamalov, chairman of the Agency for Credit and Development of the Agricultural Sector, told reporters on the sidelines of the 5th Agribusiness Development Forum in Baku, Trend reports.
''While in previous years subsidies were provided for cotton, sugar beets, and tobacco, subsidies will now also apply to sunflowers, corn, soybeans, apples, and pomegranates,'' he added.
He added that annually, the Agency for Credit and Development of the Agricultural Sector provides subsidies for planting to more than 4,000 farmers.
The official noted that the subsidies cover crops planted on an area of 1.2 million hectares:
Jamalov also stated that the state covers 60% of the cost of breeding stock.
According to him, subsidies are also provided for the purchase of agricultural machinery and equipment:
“The state covers 40% of the cost of agricultural machinery and equipment.”
The agency’s chairman added that the implementation of modern irrigation systems is of particular importance: “Thanks to subsidies for modern irrigation systems over the past five years, these systems have been installed on more than 46,000 hectares of land.”
Furthermore, Jamalov noted that farmers also receive support in the form of preferential loans: “The government provides microloans, equipment loans, and cash loans. Equipment loans are provided interest-free for five years, and thereafter the interest is subsidized by the government.”
