AMD 7,5bln provided to 11000 farms in agriculture subsidies

AMD 7,5bln provided to 11000 farms in agriculture subsidies
 June 3, 2011 - 14:23 AMT

PanARMENIAN.Net - As of today, AMD 7,5 billion was provided to 11000 farm managements in agriculture subsidies.

As Armenian Minister of Agriculture Sergo Karapetyan told a news conference in Yerevan, the subsidizing is still in progress, yet he expects a certain seasonal drop in demand for crediting. “In near future, the villagers will be collecting and selling their crop; thus, the need for loans will be somewhat decreased,” the Minister explained.

Mr. Karapetyan said the process will be activated in autumn.

The credits are provided at 14% annual rate, with 4-6% subsidized by the government.

4  03.06.11 - RA Ministry of Agriculture, World Bank and Heifer International's Armenian office organize a discussion
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