Azerbaijan Develops Measures To Support Farmers In Transition To More Sustainable Agricultural Methods
Date
10/3/2024 8:06:50 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 3. The Ministry of
Agriculture of Azerbaijan has developed several key support
mechanisms aimed at assisting farmers in transitioning to more
sustainable and efficient agricultural practices, Deputy
Chairperson of Azerbaijan's Agrarian Credit and Development Agency
Leyla Jabbarli said at a roundtable discussion on "Creating the
Highway for Private Finance" at ADA University as part of Baku
Climate Action Week, Trend reports.
"Through a joint project with cooperatives and the Development
Agency, various financial instruments have been proposed to help
farmers adopt modern technologies. Specifically, this includes
incentives for the acquisition of water-saving irrigation systems,
which are crucial for protecting the country's land and water
resources. Under the program, farmers are required to cover at
least 20 percent of the total cost when purchasing modern
irrigation systems, highlighting their interest and engagement in
the modernization process. The agency covers 40 percent of the
expenses through specialized institutions and also assumes the
interest on loans," she said.
Jabbarli noted that one of the three main goals of the "Harmony"
initiative will be to attract funding for climate projects.
"We aim to discuss opportunities for implementing projects to
transform agriculture and the food system in November, in
collaboration with state and development banks, as well as numerous
international and governmental organizations. Our goal is to
identify additional financial resources and develop a comprehensive
approach to promoting climate financing," Jabbarli added.
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