Gov't plans bank to fund agricultural projects
A bank making allocations for long-term agricultural projects may
be established in Azerbaijan.
Under a proposal of the Agriculture Ministry, the State Agriculture Bank will be involved in allocating funds on advantageous terms - with the annual 1-2% interest rate, a department head at the ministry, Rafig Majidov, said.
The bank's charter fund could be formed on account of state budget funds and central bank reserves.
Although local farmers are already receiving concessional loans from the state, the ministry believes they are in need of more funding.
Under a proposal of the Agriculture Ministry, the State Agriculture Bank will be involved in allocating funds on advantageous terms - with the annual 1-2% interest rate, a department head at the ministry, Rafig Majidov, said.
The bank's charter fund could be formed on account of state budget funds and central bank reserves.
Although local farmers are already receiving concessional loans from the state, the ministry believes they are in need of more funding.
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