Government to cover up to 60% of farm insurance

PanARMENIAN.Net - The introduction of an agricultural insurance system in Armenia has already become a reality, Economy Minister Gevorg Papoyan said during a question-and-answer session in the National Assembly.

“Tens of thousands of people can already get insured. Five or six insurance companies are now actively providing insurance services in Armenia’s regions, meaning they personally go to the locations and carry out the insurance on site. The government pays 40–60 percent of the insurance cost,” Papoyan said, according to Armenpress.

Speaking about other support programs, the minister noted that the government has provided more than 3 billion drams in compensation to farmers affected by hail in 2024–2025.

He also said that the government currently reimburses 50 percent of expenses when farmers cultivate certified seeds of cereals, legumes, and other crops.

Papoyan also stressed the importance of developing intensive agriculture, describing it as one of the government’s strategic priorities due to its high profitability.

According to the minister, the government has implemented support programs in several areas, including subsidies for establishing intensive orchards, up to 50 percent reimbursement for purchasing pedigree livestock, low-interest loans, covering more than 90 percent of loan interest for installing drip irrigation systems, as well as a leasing program for agricultural machinery.