Azerbaijani agency for agricultural dev't finances projects worth 82M manats

By Trend

Over the six months of this year, Azerbaijani Agency for Agricultural Credits & Development financed agricultural projects of 719 farmers worth a total of 82.05 million manats, the agency’s chairman Mirza Aliyev said at a press conference on the results of the first half of this year, Trendreports.

He said that 328 farmers received preferential loans worth 11.35 million manats, and 1,432 units of agricultural equipment were sold to 391 farmers. For the purpose of acquiring equipment necessary for farmers, suppliers received subsidies worth 27.1 million manats, he noted, adding that 236 farmers received preferential loans worth 12.67 million manats.

“We can assume that leasing activity in the agriculture sector has been completely liberalized,” Aliyev said. “If last year agricultural machinery was provided to farmers by one supplier, the number of suppliers increased to 35.”

He also noted that both legal entities and individuals can enter the market.

He added that if in the first half of last year, sales of agricultural equipment totaled 62.8 million manats, this year the figure increased by 12 percent to 70.7 million manats in the first six months.

In addition, Aliyev noted that the harvest season was completed for farmers without losses. This was realized thanks to the new deployment plan of Azerbaijan’s Aqrolizinq LLC, as well as thanks to the increase in the number of private farmer combines, he said.

Regarding the latter, Aliyev added that during the reporting period, sales of combines increased threefold compared to last year.

(1 USD = 1.7 manats on July 18)