Part of interests on agricultural loans to be subsidized

15:19 - 30.11.2023


November 30, Fineko/abc.az. The Agency for Agricultural Credit & Development (under the Ministry of Agriculture) is developing a project to subsidize part of interests on loans received by farmers from banks.

ABC.AZ reports that AACD department head Rovshan Mammadli said at event "Support for farmers & cooperation between the public and private sectors" in Baku.

In addition, he said, farmers can get a loan under a state guarantee, not a pledge.

"If the State guarantees 50% of the loan, the farmer may not need collateral," Ministry’s rep said.

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