As of today, AMD 7,5 billion was provided to 11000 farm managements in agriculture subsidies.

As Armenian Minister of Agriculture Sergo Karapetyan told a news conference in Yerevan, the subsidizing is still in progress, yet he expects a certain seasonal drop in demand for crediting. “In near future, the villagers will be collecting and selling their crop; thus, the need for loans will be somewhat decreased,” the Minister explained.

Mr. Karapetyan said the process will be activated in autumn.

The credits are provided at 14% annual rate, with 4-6% subsidized by the government.