Financial Literacy Training for Farmers in Lankaran

13/04/2016

Financial Literacy Training for Farmers in Lankaran


The second financial literacy training within the framework of Azerbaijan Agricultural Finance Facility – AZAFF has been organized in Lankaran Agro Science Center on April 13, 2016.


In line with the holistic approach of AZAFF, the consultant team directed its efforts for improving the financial management capacity of farmers via financial literacy trainings. Based on the needs analysis conducted and interviews with relevant associations and organizations, AZAFF consultant team developed a one-day regional training for farmers.  

Importance of planning, farm accountancy and bookkeeping in agriculture, basic characteristics of savings and loan products, roles and working principles of financial institutions, alternative financing options for farmers, tips for establishing a long-term and sustainable relationship with financial institutions, financial projections, need for external funding and timing, estimation of future cash flow and profitability (overall and per activity) are the main topics covered in the financial literacy training.

The second financial literacy training within the framework of Azerbaijan Agricultural Finance Facility – AZAFF has been organized in cooperation with The State Service on Management of Agricultural Projects and Credits under the Ministry of Agriculture of Azerbaijan Republic in Lankaran Agro Science Center on April 13, 2016. The training received huge interest from the farmers and more than 30 farmers from Lankaran and surrounding regions participated to the financial literacy for farmers training.

Farmers received a booklet that summarizes the training content and includes monthly budget sheets and profitability analysis for activities. The training provided farmers an incentive to keep their budget and make better and informed financial decisions. At the end of the training, participant farmers were awarded with a participation certificate as well.

The training received huge interest not only from farmers but also from local media. Financial literacy trainings for farmers will continue to be organized in the upcoming period.



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Our Partners


The technical assistance funds of the project are provided by the EU Neighborhood Investment Facility.


This project is financed by the European Bank of Reconstruction and Development (EBRD).


The technical assistance services within the project are provided by Frankfurt School of Finance and Management.