The European Bank for Reconstruction and Development (EBRD) will provide a senior secured loan, equivalent to US$ 2 million in local currency, to Azerbaijani agricultural producer ‘H&M Agro’. This funding will help the company to expand its hydroponic greenhouses.
The funds will be used to install efficient and environmentally friendly greenhouses in Salyan city, which will help H&M Agro to achieve higher yields and protect the environment through the efficient use of land, water and fertilisers. This will boost H&M Agro’s competitiveness, enabling it to diversify its customer base internationally.
The European Union, under its EU4Climate initiative, will complement the loan with grant support of up to 13 percent of eligible costs through the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC).
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