Subsidized rural loans for AZN 1.5 million given in Azerbaijan


July 12, Fineko/abc.az. The State Service for Agricultural Project & Loan Management of the Ministry of Agriculture of Azerbaijan has already given subsidized loans for AZN 1.5 million.

Service’s chief Mirza Aliyev has stated that it is planned to give loans for AZN 10 million by the end of the year.

"AZN 1.5 million of subsidized loans were allocated to 40 farmers in 20 districts of the country, engaged in crop production and packaging," Aliyev said.

He pointed out that rural loans are given to authorized banks at 2%, and banks themselves give loans at 7%. In the future, the loan interest rate may be reduced.