Azerbaijan introduces new rules for farm machinery purchase on subsidized terms from 15 February


February 6, Fineko/abc.az. Azerbaijan starts selling agricultural equipment on the new rules.

The Ministry of Agriculture informs that the new rules come into force on 15 February.

"From now on, farmers will be able to buy equipment on subsidized terms not only from Ministry’s leasing credit company Aqrolizinq, but also from other supplier companies," the Ministry said.

In compliance with the new rules, 20% of the customs value of the equipment will be paid by the farmer as a down payment and 40% will be paid by the Agency for Agricultural Loans & Development as subsidy. The remaining part will be registered as a bank loan for maximum 5 years. The state will cover interests on agricultural loans.