IFAD's "NORTH-WESTERN DEVELOPMENT PROJECT"

Project’s main goal:
Reducing the poverty level of the rural areas inhabitants.

Project scope: Gazakh, Tovuz, Shamkir and Agstafa districts.

The Branch implementing this project: Ganja and Gazakh Branches.

Subjects of crediting – joint debtors, credit unions, acting individuals and legal entities (small and medium enterprises).

Purpose of the loan
Production, processing and servicing all kinds of agricultural products and other kinds of activity.

Loan’s limit, term and period:

  1. For a person not exceeding the manat equivalent of 25 000 USD;
  2. To the joint debtors – up to an amount of the manat equivalent of 10 000 USD – without allowance up to 1 (one) year;
  3. To the credit unions, the acting individuals and legal entities (small and medium size enterprises) and farmers (family economies) – up to an amount of the manat equivalent of 25 000 USD – up to 5 (five) years.
  4. The term of allowance for loans of 3 (three) years – up to 18 months;
  5. The term of allowance for loans of 5 (five) years – up to 24 months;

Interest of credit and commission fee

  • Annual interest rate - 15 %.
  • The commission fee within the limits determined by the Board on credit appreciation and the rendered services.

Repayment of credit and interest

  1. The payment of interests calculated for credits at least once in a month;
  2. The repayment of the principal amount of a debt will be implemented from the term envisaged by the loan agreement after expiry of the allowance term applied to the principal debt amount.

The applicants for loans have to present the following documents:

  1. Application for loans;
  2. Business Plan; Simple business plan and schedule of money turnover
  3. Women have to be at least 50 % of the joint debtors’ group;
  4. The liquid pledge property as a warranty for credit or guarantee;
  5. The joint debtors are not required any warranty
  6. Insurance of the pledged property is expedient.
  7. The members of the joint debtor’s group have to be insured.

 

   
 
 
 
 
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