EU eyes to support issuing subsidies for agriculture in Azerbaijan

Trend:

Azerbaijan’s State Service on Management of Agricultural Projects and Credits under the Ministry of Agriculture plans to implement a joint project with the EU to issue subsidies, head of the service Mirza Aliyev told Trend.

He noted that this project is planned to be launched from April 15.

Aliyev said that there are a lot of plans and projects, noting suchas the project to increase agriculture employment (AMAL), a joint project with the Food and Agriculture Organization (FAO) of the United Nations in organizing information and consulting services and others.

He further noted that this year the service will issue loans worth 10 million manats.

Aliyev said that the same amount of funds was allocated last year. He added that the active portfolio of the service is 95 million manats.

At the same time, he expressed hope that about 50-60 million manats will be allocated additionally for the purchase of agricultural machinery and equipment.

(1.7 manats = 1 USD on Feb. 9)