In 2018, loan portfolio of pilot program for subsidizing loan rates for processing companies will amount to 18 billion AMD

ArmInfo. In 2018, the loan  portfolio of the pilot program for companies engaged in processing  fruit and vegetable crops and grapes will be about 18 billion AMD,  and the maximum loan amount per one borrower is 1 billion AMD. This  was reported by the press service of the RA Ministry of Agriculture.

Based on the results of 2017, within the framework of the pilot  program, the volume of the loan portfolio was set at 2.4 billion AMD,  and the maximum loan per borrower - 150 million AMD. Given the size  of state subsidies (9%), the annual interest rate for borrowers was  3%. It is reported that ACBA Credit- Agricole Bank, Ameriabank,  ARARATBANK, Ardshinbank, Armswissbank, Inecobank, Converse Bank,  Armbusinessbank, Armeconombank, EVOCABANK, Byblos Bank Armenia, VTB  Bank (Armenia), as well as universal credit companies DICA  (Development and Investment Corporation of Armenia, formerly referred  to as "SME Investments") and "Card-Agrocredit". As of December 29,  2017, the banks approved the applications of 19 companies for  obtaining loans for 1.3 billion AMD, including the Proshyan Cognac  Factory, EKZ Ararat, Trinity, Armenia Vine, Tamara Fruit and others,  within the framework of which in total it was possible to conclude  919 contracts for the purchase of the crop.

According to the source, processing companies from Yerevan received 5  credits for 497.7 million AMD, and concluded 265 purchase agreements  from the Armavir region - 1 loan for 15 million AMD and 23 contracts  for the purchase of the harvest, Ararat - 4 loans for 415.2 million  drams and 511 contracts, Aragatsotnaya - 2 loans for 250 million AMD  and 37 contracts, Loriysk - 1 loan 36 million AMD and 6 contracts,  Tavush - 1 credit for 7 million AMD and 13 contracts, and Vayots Dzor  - 5 credits for 90 million AMD with the conclusion of 64 contracts.