5 banks and 3 non-bank credit organizations in Azerbaijan open access for farmers to subsidized loans

12:34 - 24.05.2018


May 24, Fineko/abc.az. The Ministry of Agriculture of Azerbaijan is taking measures aimed at simplifying access of farmers and agricultural producers to financing.

Today, in Baku, the State Agency for Rural Programs & Loans signed a protocol with five banks and three non-bank organizations.

In particular, the protocol was signed by the International Bank of Azerbaijan, Pasha Bank, Kapital Bank, Turanbank, Rabitabank, as well as non-bank credit organizations Aqrarkredit, Finoko and Finans Invest.

The protocol implies giving of subsidized loans to farmers and producers of agricultural products. Farmers will be able to use both immovable and movable property as collateral. Loan rates will not exceed 7%.

 

 

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