Tuesday, December 2 2014 16:41

Ameriabank issues loans for development of greenhousing in Armenia


ArmInfo. Ameriabank has launched a program to finance development of greenhousing in Armenia.

The press service of Ameriabank reports that for this purpose the bank will provide preferential loans, this including funds for equipping and enlargement and consultations for specific projects.

Ameriabank has already lent $4mln to Kaga Agro, a company set up in Jan 2014, so it can build greenhouses based on Dutch technologies and covering a total area of 2.3 h.

According to Ameria Management Advisory, the abundance of small greenhouses in Armenia curbs the development of greenhousing in the country. In future this industry will develop as more and more large greenhouses will start using advanced technologies.

Ameriabank is a universal bank providing investment, corporate and retail services. The sole shareholder of the bank is Ameria Group CY Ltd.
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