WB recommends Azerbaijan to expand range of agricultural financial products


May 24, Fineko/abc.az. The World Bank believes that the level of lending to agricultural business in Azerbaijan is low.

WB expert on agricultural issues Rufiz Chiragzade has stated that Azerbaijani banks’ portfolio of agricultural loans makes a minimal part of country’s GDP.

"The portfolio of agricultural loans makes up minimum part of banks’ loan portfolio and 85-90% of those loans are formed in Baku. In Azerbaijan, there are problems with agricultural lending, in particular with the farmers ' access to financial resources, as well as the availability of agricultural financial products," Chiragzade said.

He added that Azerbaijan also has too strict requirements for giving of rural loans.



Keywords: World Bank