2024-06-06 00:44:19
The process for offering state ensures for loans supplied on the expense of credit score establishments’ personal funds to enterprise entities which have undertaken obligations to supply meals wheat for the acquisition of contemporary irrigation methods, having entered into an settlement with the Ministry of Agriculture of the Republic of Azerbaijan, has been accepted.
As Day.Az reported on Wednesday, the Cupboard of Ministers of Azerbaijan made a corresponding choice.
A mortgage portfolio within the quantity of 280 million manats supplied to enterprise entities in accordance with the talked about process is secured by a state assure within the quantity of as much as 168 million manats.
The state assure might be supplied on the premise of the “Framework Assure Settlement on State Assure Safety for Loans Issued to Enterprise Entities Working with Obligations for the Manufacturing of Meals Wheat”, concluded between the Ministry of Finance and the Agrarian Credit score and Growth Company below the Ministry of Agriculture.
The Ministry of Finance, considering the necessities of the regulation “On State Debt”, is obliged to meet the state-guaranteed however unfulfilled debt obligations of enterprise entities on the expense of the funds of the Debt Safety Fund obtained below the state assure.
The state assure supplied in accordance with this process will apply to all mortgage agreements concluded with a state assure earlier than January 1, 2028.
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