ArmInfo. In Armenia, the visit of international experts selected by the KfW bank is expected, with which it is planned to develop further steps to insure agriculture and fix specific dates. This was stated by the Minister of Agriculture of Armenia Ignaty Arakelyan on February 2 during a meeting with representatives of insurance companies.
According to the press service of Armenian Agriculture Ministry, during the meeting, in which representatives of the Central Bank of Armenia and the German Development Bank KfW also participated, Ignaty Arakelyan informed that in order to reduce risks, a pilot program for the introduction of missile anti- hail systems is being implemented jointly with the Ministry for Emergency Situations. In addition, starting in 2018, the program for subsidizing interest rates for the introduction of anti-hail protection systems in the agro-complex was launched.
According to the Deputy Minister of Agriculture Armen Harutyunyan, at present no less important task is the establishment of an institution for damage assessment, the formation of the Narma bureau, which will become the mechanism that will be used to assess the damage caused to the agriculture as a result of natural elements. The Bureau will also develop insurance policies.
It was noted that to implement the pilot program, KfW Bank will grant a grant of 5 million euros and the same amount will be received from the country's budget as part of the co-financing of the project by the government of Armenia. These funds will be used to subsidize insurance policies, as today the villagers are not ready to make expenditures on their own. In their turn, representatives of the Central Bank presented a proposal to form a bureau "Narma" from representatives of insurance companies participating in the project, using the successful experience of introducing the OSAGO (compulsory third party motor liability insurance) system. Participants of the meeting expressed to me that the system of agricultural insurance will start working already in 2019.