Armenia to allocate 500 million AMD to subsidize leasing support program to agricultural machinary in 6 years

ArmInfo. Within the framework of  the program of providing agricultural machinery, for the subsidizing  of leasing in the next 6 years in Armenia is planned to allocate 500  million AMD. Deputy Minister of Agriculture of Armenia Robert  Makaryan announced this on March 25 during the signing of a  memorandum on state support for the program between the Ministry and  the National Center for the Development of Small and Medium-sized  Entrepreneurship (SMEs).

And, although today 1 financial organization  participates in the program of providing agricultural machinery in  leasing - the state "Investments of SMEs" and one supplier of  agricultural machinery - "Spetsmash" LLC, according to Makaryan,  everyone who meets the established criteria can join the list of  participants. 

According to him, there are no restrictions on the choice of the  country of the producer of agricultural machinery, the main thing is  that the machinery is affordable and of good quality. As noted by  Makaryan, 90% of the existing agricultural machinery in the country  is older than 20 years and needs modernization.  And with the help of  the subsidies provided within the framework of the state program for  the purchase of agricultural machinery in leasing, the Ministry of  Agriculture plans to sell the new equipment annually by 2.2-2.8  billion AMD.

According to the Financial Rating of Banks and Credit Companies of  Armenia prepared by IC ArmInfo, the volume of leasing operations for  the year of 2016 increased by 11%, amounting up to 16.7 billion AMD.   The main supplier of leasing services is the company ACBA Leasing, in  the portfolio of which the agricultural sector accounts for only 3%  of the investment.