UCO Kamurdj is involved in state program of subsidizing agricultural credits

ArmInfo. Universal Credit Organization (UCO) Kamurdj joined the government's initiative to issue subsidized agricultural loans. The memorandum on cooperation in this sphere was signed by the Deputy Minister of Agriculture of the Republic of Armenia Robert Makaryan, charge d'affaires  director of the state structure for agricultural financing of the "Office for the Implementation of Programs for the Economic Development of Rural Areas" of the Government Staff Vahe Harutyunyan and the Deputy Executive Director of the UKO "Kamurdj" Arpine Arshakyan.

According to Makaryan, Kamurdj organization became the fourth structure that joined the program. There are negotiations with other organizations. "As the number of participants in the program increases, so will competition, and farmers will have the opportunity to choose their partner," the deputy minister said. He added that currently in the regions there are active courses on certification, 1,600 farmers are already certified, for which there were also

creditors.

In his turn, Harutyunyan stressed that the increase in the amount of loans allows farmers to make capital expenditures, thereby more rapidly developing their own production. Involving more financial structures in the program makes it possible to expand the territory of the presence from the geographical point of view, creating favorable conditions for the availability of credit resources for agricultural enterprises.

Arshakyan from her side stressed that UKO Kamurdj has branches in almost all regions of Armenia, and farmers now have the opportunity to apply to these offices for obtaining subsidized loans. "Lending to agriculture is not a new direction for us, we joined the state program in order to serve a larger number of clients on more accessible terms,"  Arshakyan explained.