ArmInfo. Armenian farmers will be able to purchase agriculture machinery on lease at low interest rates. The relevant program was approved at today's sitting of the Government.
Armenian Minister of Agriculture Ignaty Arakelyan said that the farmers will get an opportunity to purchase farm machinery at 2% p.a. 7% will be subsidized by the state. In 2017, nearly 2.2 bln AMD will be spent on farm machinery. 150 mln AMD will be allocated from the Government's emergency fund for the first subsidization operations.
Armenian Prime Minister Karen Karapetyan said that in fact more than 2.2 bln AMD will be allocated for the project, because the key goal of the Government will be to create conditions for development of agricultural production. The Prime Minister noted that a company will be set up to deal with that issue. "One should clearly understand that no real positive results in the agrarian sector are possible unless the agricultural production is mechanized with advanced technologies," he said.
According to ArmInfo's Financial Rating of Banks and Credit Companies of Armenia, in 2016 the leasing operations grew by 11% to 16.7 bln AMD. The key provider of leasing services is ACBA Leasing. The share of agrarian sector in the company's portfolio is 3%.
