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Time in Yerevan: 11:07,   28 March 2024

Agriculture Ministry to revise agricultural loan subsidy program

Agriculture Ministry to revise agricultural loan subsidy program

YEREVAN, MARCH 30, ARMENPRESS. Armenia’s Government approved agricultural loan subsidy program during March 30 session, reports Armenpress.

The program will remain with almost same terms as previously, Minister of Agriculture Ignati Arakelyan said.

He informed that within the frames of entire program, during 2011-2016 about 99 billion AMD loan was provided to 119.000 units, whereas last year 15 billion AMD loan was provided to 20.000 units. The Minister said this is quite a big figure, however, the program must be revised.

“Within the framework of Agricultural Development Fund created under the Ministry, we are going to change the program in a sense that subsidized loans will be provided to those rural economies that will present concrete programs: after this the Fund will approve the application and the economic entity will have a right to apply to the bank. Today there are cases when rural people just receive unintended credits. Moreover, the existence of concrete program will enable to develop their economies”, Minister Arakelyan said, assuring that always improvement ways will be found, for that purpose they will constantly conduct a monitoring. 








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