Deputy Minister: Azerbaijani banks to receive agricultural subsidy info via EKTIS

Loan interest rates for the agriculture sector will be subsidized in Azerbaijan, and relevant information will be provided to banks through the Electronic Agricultural Information System (EKTIS), Deputy Minister of Agriculture Zaur Aliyev stated at a press conference dedicated to the State Program on the Development of Agriculture, Fisheries, and Aquaculture Production and Processing for 2026–2030, Report informs.

Aliyev noted that meetings have been held with the Central Bank of Azerbaijan, financial institutions, and banks during the preparation of the program:

"Discussions were also conducted with representatives of the Azerbaijan Business Development Fund. Preliminary agreements have been reached to allocate certain funds specifically for agricultural production and processing."

Aliyev added that the newly introduced subsidy mechanism will improve access to financing for farmers and agribusinesses: "At least 50% of loan interest will be subsidized by the state. This tool will increase financial accessibility for producers. We are also working to eliminate information asymmetry to boost financial institutions' interest in the sector."