On March 29, during a meeting in Armenia’s Kotayk province government amended the decision on specification of funding mechanisms in the framework of the program “"Economy Stabilization Lending.”

In this context, Prime Minister of Armenia Tigran Sargsyan noted that the government granted concessional loans to farmers at the amount of AMD 14 bln. last year.

“This year we will allocate extra AMD 7,5 bln.,” he said.

Farmers of Kotayk province also benefited from the concessional loans, with the 90 % of the applications granted.

In 2011, the maximum amount of concessional loans for farmers totaled AMD 3 mln, with 14 % interest rate, 6-month grace period and up to 2 years maturity.