.:First in Azerbaijan web portal about Guba city:.: "AGRARKREDIT" Joint-Stock Credit Organization

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"AGRARKREDIT" Joint-Stock Credit Organization

History

The “Aqrarkredit” Joint-Stock Credit Organization was established on the basis of former Agro-Industrial Bank by Decree of Cabinet of Ministers issued in April 2001. And by other Decree of Cabinet of Ministers, dated in October 2003, after the joining of Rural Investment Foundation to “Aqrarkredit”, it was re-established. According to the obtained license from National Bank, the organization implements the following activities:

To lend loans directly or through other credit organizations to economic subjects dealing in agricultural sector and also rural areas for the development of social-economic conditions, to provide consulting and encashment of cash, bills, payment and accounting documents of persons whom provided lending services, to buy and sell foreign currencies in internal market;
To implement agent functions and services in the projects of international financial institutions, interstate treaties of donor countries and also in the projects of the Azerbaijan Government directed to the development of agrarian sector, mainly farming enterprises;
To manage problematic loans and liabilities given to the balance of the organization;

List of institutions invested by Credit Organization

"Azer-Turk" Joint-Stock Commercial Bank
"Bashak-lnani" Azerbaijan Turkish Mutual Insurance and Reinsurance Company
Baku Interbank Currency Exchange

The Objective of Credit Organization

Support of the rural sector and aid in the sustaining of all sectors of the rural economy is stimulated.

Relations with International Financial institutions

World Bank
International Monetary Fund
European Union
International Organization on agricultural lending in the countries of Eastern Asia and Pacific Ocean (APRAKA)
International Association on lending of agriculture (CICA)
Ziraat Bank of Turkish Republic.

Loans may be disbursed to the followings with identified conditions:

To legal and physical persons dealing with private entrepreneurship in agricultural sector;
To legal persons whom state shares no exceeding 20%;

On lending of rural areas:

a) To agricultural production:

- All types of livestock, dairy, crops, fruit production, and fishery and so on.

b) To agro-processing:

- Canned processing, packaging, tobacco and so on

c) To other types of activity in rural area.

The implementation of "Agent" functions

Lending of loans to private farmers in pilot areas of Sharur district of Nakhichevan AR, regions Khachmaz, Barda, Salyan, Ujar, Lenkoran from Revolver Fund as an continuation of the Project of World Bank, and also "Agent" functions through implementation on leasing of agricultural machineries purchased by allocated Grant of Japanese Government.

For obtaining of loans initially the following documents have to be sent to branches:

Loan application;
Justified Business-Plan;
Collateral property providing as a security of the loan; (collateral not less 150% of credit volume)

Suggested Loan Types

Short-term - up to 18 months
Medium-term - up to 30 months
Long-term - more than 36 months

Address

25 H. Rustamov str.,
AZ4000, Guba, Azerbaijan
Tel/Fax: (994 169) 51799

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I`ve never seen such a beautiful city!!!
05 Nov : 10:34

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