Azerbaijani business confederation to extend terms of beneficial agriculture credits

The National Business Confederation of Azerbaijan proposed the Ministry of Economic Development to extend the terms of issuing and the quantities of beneficial credits, provided by the National Business Support Fund, for agriculture, head of the confederation Mamed Musayev said at a press-conference in the headquarters of Yeni Azerbaycan Party, Trend reports.

The conference was organized to round up the activities in 2010 and the plans for the future.

Musayev said that grape and tea growing are important agriculture spheres in Azerbaijan pay for themselves within 10-20 years, while the beneficial credits are provided for 2 years. This means that the credits should be provided for 8-10 years. Grape growing requires at least a 7-year credit.

The confederation proposes to lift the up-limit for the beneficial credits, which is equivalent to 5 million mantas today. This will provide large business with expanded access to finances. The limit should reach 7-10 million mantas.

The official currency rate on February 3 is 0.7961 AZN/USD.