ProCredit Bank joins governmental program on agricultural loans subsidizingApril 29, 2011 - 15:36 AMT PanARMENIAN.Net - ProCredit Bank has joined the new governmental program on agricultural loans subsidizing. Thus, the Bank highlights the importance and significance of agriculture in the whole process of the country’s economic development. With participating in the program, the bank aims to finance those farmers, who operate in top-priority spheres of agriculture by providing more favorable lending conditions. The maximum loan amount under the program is AMD 3mln, with maximum annual interest rate making 14%, while 4-6% of it the farmers will get back from the government. The loans are granted with no disbursement fees and early repayment fines and with at least 6-month grace period. General Manager of ProCredit Bank Armenia, Mr. Bertolt Hertzfeldt noted: “ProCredit Bank in Armenia has been engaged in agro lending since 2009. We believe that this subsidizing program will significantly contribute to the sustainable growth of entities engaged in agricultural production.” Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |