17:03 - 1.02.2022

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February 1, Fineko/abc.az. President Ilham Aliyev has signed a decree on the amendments to the document "On improvement of state support for agriculture & leasing activities in the agricultural sector" dated 19 December 2018.

ABC.AZ reports that according to the new presidential decree, a bank guarantee will be required for non-bank credit organizations, directing finances for the agricultural sector in excess of their authorized capital.

In addition, the decree says that authorized credit organizations can apply to the Agrarian Credit & Development Agency (AKIA) under the Ministry of Agriculture with a request to reduce or cancel the limit.

The limit allocated to an authorized credit institution within one year may not exceed 30% of the total limit provided to an authorized credit institution this year.