Armenian farmers to benefit from preferential loans

Armenian farmers to benefit from preferential loans

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.

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