Azerbaijani President Ilham Aliyev on November 20 ordered to allocate AZN 8 million to the state-run JSC Agroleasing from the Presidential Reserve Fund of State Budget for 2014 for the purchase of agricultural equipment and 10 million manat to buy breeding stock.
Over the 10-year period of activity of the company by public funds were purchased and leased to farmers over 20 000 units of agricultural machinery, as well as about 11 000 head of cattle and more than 2 000 head of sheep and goats.
In 2014 JSC Agroleasing received from the state budget 35 million manat of direct financing. The following year there will be the same amount of funding.
Purchased in Europe, breeding stock is available to farmers on a three-year lease on 50% of the purchase price.
JSC Agroleasing was established in 2004 with a 100% equity interest of the state. Since 2009, it is subordinate to the Ministry of Agriculture. --08D--
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