CBA: Interest rates on loans to grain producers may be subsidized

Subsidizing interest rates on loans to grain producers in Azerbaijan is under discussion, Toghrul Aliyev, the Deputy Chairman of the Central Bank of Azerbaijan (CBA), said at the 4th Agribusiness Development Forum held in Baku, Report informs.

According to Aliyev, if this is implemented, it will support lending to grain production.

"The CBA has welcomed this initiative with interest and has discussed it extensively with banking sector specialists. We believe that directing subsidies to loan interest rates will support banks' more active participation in agricultural lending. The CBA is always ready to support this project," the deputy chairman added.