Thursday, December 8 2011 16:03

KfW to start financing of agriculture in spring 2012


Arminfo. The German KfW bank will start refinancing of agriculture credits in Armenia in spring 2012. As chief coordinator of projects of KfW office in Armenia Bella Andriasyan told Arminfo correspondent, the credit programme costs 15 mln EUR for implementation of the technical part of the programme, including holding of training courses and consultations.

She recalled that the agreement on granting of agriculture credits was reached at the beginning of 2011 in Frankfurt. She also added that for the refinancing, the funds will be granted to the commercial banks of Armenia from the "window" of the German-Armenian Fund (GAF). The participant-banks in the programme will be selected taking into account the number of the offices of banks and credit organizations and their experience in agriculture crediting. "At present the design and methodology for fulfillment of the programme is being drawn out, and we think that all the needed documents to start the programme will be signed at the beginning of 2012", - she empathized.
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