Bank loan rates to be cut


May 25, Fineko/ At today's meeting of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship, Deputy Economy Minister Sevinj Hasanova spoke about bank loans and interest rates applied.

ABC.AZ reports that the deputy minister stressed that the banking sector should exert its influence on economic development.

Hasanova noted that this also includes issues related to credit interests.

"The State will intervene to give loans at low rates. In this regard, we’ve made proposals for the introduction of a new mechanism, and the proposals have already been approved. The state will support the provision of loans to companies engaged in agriculture. We believe this will contribute to our anti-inflationary measures,” Hasanova said.

The deputy minister added that mechanisms for providing subsidies and preferential loans to food importers have been developed.

"This is a special program in connection with inflation. Relevant programming work is underway in relation to food safety. In February, the Cabinet Ministers signed an order on anti-inflationary measures. Some issues are already being resolved," Hasanova emphasized.