Armenian farmers to benefit from preferential loans

Armenian farmers to benefit from preferential loans
August 24, 2012 - 19:55 AMT

PanARMENIAN.Net - 35 600 farmers have already benefited from government-allocated agriculture preferential loans, Agriculture Minister said.

Sergo Karapetyan noted that starting from September, Armenian farmers will get preferential loans at the amount of AMD 7,5 bln.

He further said that the program will bear a consistent nature, with loan terms probably to be reconsidered to boost their accessibility for villagers.

In 2011, preferential loans at the amount of AMD 17,4 bln. were allocated to 25 200 farmers in two stages, with 9 100 beneficiaries having received AMD 7,4 bln. subsidized loans in 2012

The maximum amount of preferential farm loans allotted totals AMD 3 mln with 14% lending rate, 6-month grace period and up to 2 years of maturity date with no early repayment penalties.

Partner news
 Top stories
Armenian Public Council advises to rehabilitate ArmaviaArmenian Public Council advises to rehabilitate Armavia
“It’s a pity that instead of operating flights, airplanes with Armenian flags stand idle under the sun,” Ghazaryan said.
Gazprom seeks 100% stake in ArmRusgaspromGazprom seeks 100% stake in ArmRusgasprom
The issue was discussed by Gazprom chief Alexey Miller and Armenian Minister of Energy and Natural Resources Armen Movsisyan.
PSRC to discuss lowering water price at June 21 sittingPSRC to discuss lowering water price at June 21 sitting
On Feb 23, 2012, Yerevan Jur CJSC issued application for decreasing water prices from current AMD 174,059 to AMD 166,044 per cubic meter.
KfW Development Bank to assist SMEs in ArmeniaKfW Development Bank to assist SMEs in Armenia
Finance Minister David Sargsyan met with the regional director of KfW German Development Bank Lars Oermann.
Partner news
 Articles
EFSE funding for agricultural sector keeps growing

This is even more significant as the EFSE gives PLIs full flexibility in using MSE credit line funds across economic sectors.

 Most popular in the section
CBA: measures taken to de-dollarize Armenian economy
CBA forecasts 1% decrease in economic growth
Russia hails Armenia’s efforts for Customs Union integration – FM
CBA, EFSE, European Banking Center to sign MoA
Home
All news
Overview: Economy
Archive for August 24, 2012
Other news in this section
 Latest news
Artsakh President visits republic’s southeast The discussions focused on the defense system, development of agriculture, telecommunications and construction fields.
Intel chief tech officer hints at move into smartwatch market Several other tech companies are believed to have smartwatches in the works, including Apple, Samsung and LG.
Lenovo unveils ThinkPad S531 Ultrabook The PC features a 15.6-inch display that can be laid flat at 180 degrees, and is powered by an Intel 3rd Generation Ivy Bridge processor.
Energy Minister confirms talks on sale of 20% Armenian shares to Gazprom Ealier, Gazprom chief and Movsisyan discussed the possibility of increasing the Russian gas giant's share in ArmRusgasprom to 100%.