Azerbaijan to allocate over $3M to develop agricultural insurance

In 2022, about 80% or AZN 791.2 million ($465.68 million) of AZN 986 million ($580.34 million) allocated from the state budget of Azerbaijan for agriculture will be directed to the development of plant-growing, Report informs, citing the Azerbaijani Finance Ministry.

Besides, next year AZN 75.8 million ($44.61 million) will be allocated for the development of animal husbandry, AZN 101 million ($59.44 million) - for improvement of the supply of the agricultural sector with means of production, AZN 5.4 million ($3.17 million) - for the development of agricultural insurance, AZN 9.6 million ($5.65 million) - for the development of production enterprises in agriculture, trade, and services.

Moreover, AZN 3 million ($1.76 million) of reserve funds are also provided.