Armenian Agriculture Ministry in partnership with ACBA Leasing and RAED PIU will give opportunity to get agriculture equipment to leasing under unprecedented conditions

ArmInfo. Robert Makaryan,  Armenian Deputy Agriculture Minister, Vahe Harutyunyan, charge  d'affair Rural Areas Economic Development Programmes Implementation  Unit-RAED PIU office director and General Director of ACBA Leasing  Company Arsen Bazikyan signed a memorandum of cooperation on May 4.  Within that document the sides intend to provide the implementation  of financial leasing of agricultural machinery - state assistance in  leasing program, Armenian Agriculture Ministry press-service informed  ArmInfo. 

According to the source, to get leasing of agricultural machinery it  is necessary to implement 20% payment, interest rate is set at 2%  annual, maturity term from 3-10 years, depends on type of equipment.   Within the program agricultural subjects could get tractors of  different brands, grain combines, haymakers, tractor with sowing  machine, hay clipper, plows, cultivators, agricultural technique for  dropping and gathering potatoes and others. 

"Now we conduct negotiations with other organizations as well, to  increase the number of involved financial structures. The market is  open, and the more deliverers and finance structures would be  involved, the more accessible would be getting equipments for farmers  and cooperatives", Makaryan stated. 

In his turn, ACBA Leasing General Director Arsen Bazikyan stressed  that this memorandum will allow farmers to get agriculture machinery  under unprecedented conditions, which will allow to extend their  business.  

To note, ACBA-Leasing is the first leasing company of Armenia,  founded in 2003. The shareholders are the French company Credit  Agricole Leasing & Factoring and the Armenian ACBA-Credit Agricole  Bank.  ACBA-Leasing is the leading leasing company in the Armenian  market, its coverage reaches 80%. Among the priority areas of the  company's activities: financing the acquisition of energy-efficient   and energy- efficient equipment, implemented under the brand "Green  Leasing", created by ACBA-Leasing in 2014.  According to the  Financial Rating of Banks and Credit Companies of Armenia prepared by  IC ArmInfo, the volume of leasing operations increased by 11% in  2016, making 16.7 billion AMD. A year earlier, in 2015 the volume of  leasing operations decreased by 20%. The volume of  leasing  operations of ACBA-Leasing by January 1, 2017 amounted to  13.1  billion AMD with an annual growth by 12%. In the total volume of   leasing operations of banks and credit companies, the share of  ACBA-Leasing is 78.5%.