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Azerbaijan’s PASHA Bank May Allocate 20M manats for Financing Agriculture

Azerbaijani PASHA Bank plans to allocate additional 20 million Azerbaijani manats for the financing of the agricultural sector, said the head of the bank’s board Taleh Kazimov.

“The previous year was very successful for this project and we plan to continue its implementation,” said Kazimov adding that more active work will begin from April-May.

The Bank finances the agricultural sector within the joint project with the World Bank (WB).

The agreement on a loan in the amount of $34.5 million for the Agricultural Competitiveness Improvement Project (ACIP) for Azerbaijan was signed between the WB and the Azerbaijani government in June 2014.

The purpose of the project is to facilitate the access of agricultural producers to markets by strengthening sanitary and phytosanitary services, enhancing selected value chains, and providing financial services to agribusiness enterprises.

Pasha Bank is a leading corporate bank in Azerbaijan. The bank, founded in 2007, renders a range of corporate banking services, including issuing of loans, operations in the securities market, asset management, and treasury services.

Source: Trend
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