Minister: Azerbaijan to subsidize interest on annual crop loans

The Azerbaijani government will cover interest payments on loans issued for annual crops starting this autumn, Agriculture Minister Majnun Mammadov told journalists following an event held as part of the 100th Jubilee Agribusiness Festival, according to Report's correspondent in Aghdam.

Mammadov noted that under the 2026-2030 State Program for the Development of Agricultural, Fisheries and Aquaculture Production and Processing in Azerbaijan, an interest subsidy mechanism has already been approved for loans provided by the Azerbaijan Business Development Fund as well as private banks.

He said the mechanism will be implemented through both the Agrarian Credit and Development Agency (AKIA) and the Agrarian Insurance Fund.

"For the first time, within the framework of AKIA, the state will cover interest payments on limited-volume loans issued this autumn for annual crops, namely seasonal and annual-crop financing," the minister said.

Mammadov also noted that efforts to develop the agricultural sector in Karabakh and East Zangazur are continuing in multiple areas, including horticulture and water infrastructure projects.

He added that poultry projects proposed by the private sector, as well as initiatives aimed at expanding modern irrigation systems, are also planned for implementation.