Minister: Azerbaijani banks ready to ease collateral requirements for farmers

Azerbaijani banks are prepared to ease collateral requirements for farmers, the countrychr("39")s Agriculture Minister Majnun Mammadov said, Olaylar informs.

Speaking at a meeting on cotton development in Sabirabad, held within discussions of the State Program for the Development of Agriculture, Fisheries, and Aquaculture for 2026-2030, Mammadov said an agreement has been reached to provide banks with data from the Electronic Agricultural Information System covering farmerschr("39") activities over the past 5-6 years.

"Banks have stated that with reliable information on farmers and their track records, they are ready to apply a more flexible approach to collateral requirements," the minister noted.

He stressed the importance of farmers responsibly entering data into the system, warning that missing information on production volumes could raise questions when applying for loans.

Mammadov also revealed that a new mechanism - a product certificate - has been developed to allow farmers to use their harvest as collateral for loans. "The document is under review. We hope it will be presented to the Milli Majlis during the autumn session. If adopted, farmers will gain a new financing tool," he added.