Gov't launches greenhouse subsidized lending program

PanARMENIAN.Net - The Armenian government has approved a program to subsidize interest rates on loans for greenhouse operators, aiming to support producers and ensure the continued cultivation of vegetables, berries, and flowers, the Ministry of Economy said.

The program is open to legal entities and individual entrepreneurs operating greenhouses of at least one hectare that produced and sold agricultural products during 2026. Applications may be submitted through participating financial institutions until September 1, 2026.

The maximum loan amount has been set at 100 million drams per hectare of greenhouse area.

Loans will be issued at an annual interest rate of up to 14%, with the government subsidizing 12 percentage points of that rate.

The maximum repayment period will be 18 months, including a 12-month grace period.

Loan funds must be used through cashless transactions for approved purposes, including payments for natural gas, electricity and water, settlement of taxes and mandatory payments to the state or local budgets, payment of wages and equivalent compensation, as well as the purchase of fertilizers, seeds and seedlings from VAT-registered suppliers.

Russia has recently imposed import restrictions on a range of Armenian products, including Jermuk mineral water, flowers, certain alcoholic beverages and several agricultural products. The measures have also affected imports of tomatoes, cucumbers, strawberries, cherries, apricots, peaches, plums, grapes, eggplants, potatoes and dried fruits, as well as the transit of some goods to other Eurasian Economic Union member states.