ACBA Leasing on Thursday, May 4 joined the subsidy program of agricultural machinery leasing. Armenia’s deputy minister of agriculture Robert Makaryan, acting head of the rural financing branch of the government’s rural areas economic development office Vahe Harutyunyan and ACBA Leasing general manager Arsen Bazikyan signed a corresponding memorandum.

“We are now negotiating with other organizations as well to have more financial institutions involved in the project,” Makaryan said.

“The market is open. The more providers and financial institutions we have, the lower will be the prices for agricultural households, farmers and cooperatives. "

Bazikyan said, in turn, that the memorandum will enable farmers to purchase agricultural machinery on unprecedented conditions and serve as a basis for expanding their business.

Harutyunyan also commented on the project, citing a great demand for agricultural tools.

In the framework of the project, businesses can purchase tractors, combine harvesters, balers, sowing machines, plows, mowers, potato planters, potato harvesters, cultivators, milling cutters and and sprayers.

The equipment can be acquired with a 20% deposit, 2% annual leasing interest rate and 3-10 years of maturity period, based on the type of machinery.