Azerbaijan proposes to reconsider terms of preferential loans for entrepreneurs

The Azerbaijani National Confederation of Entrepreneurs offers the Ministry of Economic Development to change the date of issuance and amount of preferential loans provided through the National Fund for Entrepreneurship Support to finance agriculture, chairman of the Confederation Mammad Musayev said at a press conference at the headquarters of the party "New Azerbaycan ", dedicated to the results of Confederation in 2010 and plans for the current year.

"The agrarian sector has a greater need for financial resources. In this direction, the confederation is actively collaborating with the fund. This year we intend to further expand our cooperation," Musayev said.

He said that the payback period is 10-20 years in such areas as wine and tea growing, which are important for Azerbaijan. The loans of the fund cover two years.

"Ten years are required in the tea-growing area for getting crops. So, the credit must be given for a period of 8-10 years. There is a need for at least a seven-year loan in the field of viticulture. As it is known, there are a number of enterprises on grape processing. Therefore, it important to support small entrepreneurs who grow grapes on their areas, " he said.

He said that the Confederation proposes to increase the maximum limit of loans, which now hits 5 million manat.

"The country has a number of large enterprises. They already enter the foreign markets and export local products. So, it is necessary to improve their access to finance resources for them not to lack the funding," Musayev said.

He said that the confederation proposes to increase this limit up to 7-10 million manat.


/Trend/