Tuesday, December 20 2011 17:55

Over 12bln AMD to be seized from Armenian farmers against overdue loans


ArmInfo. Over 12bln AMD will be seized from Armenian farmers against overdue loans, reports the Open Society Institute Assistance Foundation-Armenia.

Head of the Foundation David Amiryan told journalists on Tuesday about the social and personal problems the indebted farmers are faced with.

He said that the foundation has allocated almost $3mln for this particular survey and social and cultural projects in Armenia and has ordered almost 200 articles about this situation.

Amiryan did not accuse either the banks or the farmers, so, it was a bit unclear why he had called the journalists in the first place. He just said that the foundation also lends money to farmers, but he did not specify the terms.

Armenia's Deputy Agriculture Minister Robert Makaryan said that the country's commercial banks have lent a total of 15bln AMD to 23,000 farms. The state interest on the loans is 4-6%, while the farmers are borrow them at 8-10%. Makaryan said that the key reason why some of the loans were not repaid is that the banks did not inquire into their solvency. He said that the loans are provided for the purchase of cars, domestic appliances or house repairs. He was not able to say how much exactly the farmers owe.
POST A COMMENT
Input digits     


News
Russian government presents results of 23rd meeting of  Armenian-Russian intergovernmental commissionRussian government presents results of 23rd meeting of  Armenian-Russian intergovernmental commission
USD transactions down RUB ones up in in Armenia`s interbank foreign  exchange market Dec 16 to 20USD transactions down RUB ones up in in Armenia`s interbank foreign  exchange market Dec 16 to 20
Idram Junior Donated Books to SchoolsIdram Junior Donated Books to Schools
"Gray deals" involving gold and diamonds seen in private transfers
Overchuk: Trade turnover between Russia and Armenia reached $10.2  billion in the first 10 months of 2024Overchuk: Trade turnover between Russia and Armenia reached $10.2  billion in the first 10 months of 2024
Armenian Deputy Prime Minister: Agricultural trade turnover between  Armenia and Russia increased by 7%Armenian Deputy Prime Minister: Agricultural trade turnover between  Armenia and Russia increased by 7%
Team Telecom Armenia`s Sustainable Development Bonds to be listed at  Armenia Stock ExchangeTeam Telecom Armenia`s Sustainable Development Bonds to be listed at  Armenia Stock Exchange
EBRD invests $13.5 million  in Team Telecom Armenia`s $75 million  bond issuance  EBRD invests $13.5 million  in Team Telecom Armenia`s $75 million  bond issuance 
Are all funds protected in Russian banks?Are all funds protected in Russian banks?
Global digital cooperation gaining currency in interconnected world -  Armenian NA vice-speaker Global digital cooperation gaining currency in interconnected world -  Armenian NA vice-speaker 
Armenia`s economy minister, C-Quadrat Ampega reps discuss development  of Armenia`s capital market Armenia`s economy minister, C-Quadrat Ampega reps discuss development  of Armenia`s capital market 
RA Embassy in USA hosts special fireside chat on USAID`s lasting  impact in strengthening Armenia`s economic resilience and democratic  governanceRA Embassy in USA hosts special fireside chat on USAID`s lasting  impact in strengthening Armenia`s economic resilience and democratic  governance
Armenia committed to constructive cooperation within BSEC to advance  peace and stability in Black Sea Region and beyond - Armenian FM Armenia committed to constructive cooperation within BSEC to advance  peace and stability in Black Sea Region and beyond - Armenian FM 
Big Christmas Market with Idram, IDBank and idplusBig Christmas Market with Idram, IDBank and idplus
Armenia implements 10 investment projects in Eurasian region - EDBArmenia implements 10 investment projects in Eurasian region - EDB
Armenian government plans to hold IPO for its share in  Zangezur  Copper and Molybdenum CombineArmenian government plans to hold IPO for its share in  Zangezur  Copper and Molybdenum Combine
Armenia, Japan to sign convention abolishing double taxationArmenia, Japan to sign convention abolishing double taxation
EFSD to issue $2mln grant to Armenia to improve financing reporting  quality of government agencies EFSD to issue $2mln grant to Armenia to improve financing reporting  quality of government agencies 
Armenia, Hungary to sign economic cooperation agreementArmenia, Hungary to sign economic cooperation agreement
ZCMC paid AMD 33.249bln to Armenia`s state budgetZCMC paid AMD 33.249bln to Armenia`s state budget
Interregional cooperation high on agenda of Armenian-Russian  intergovernmental commissionInterregional cooperation high on agenda of Armenian-Russian  intergovernmental commission
Deputy Minister of High-Tech Industry, ITU Regional Director discuss  future cooperationDeputy Minister of High-Tech Industry, ITU Regional Director discuss  future cooperation
IMF Board completed the 4th review under the SBA with Armenia,  providing the country with access to SDR $24.12 millionIMF Board completed the 4th review under the SBA with Armenia,  providing the country with access to SDR $24.12 million
Armenia, Iran discuss tourism cooperation prospects Armenia, Iran discuss tourism cooperation prospects 
Armenia facing serious demographic challenge - Tigran JrbashyanArmenia facing serious demographic challenge - Tigran Jrbashyan
Lars open for cars Lars open for cars 
The Best Gifts for New Year for Your Loved OnesThe Best Gifts for New Year for Your Loved Ones
Conflict of interests between West and Russian to harm Armenian  nuclear energy - opinion Conflict of interests between West and Russian to harm Armenian  nuclear energy - opinion 
Laws designed to develop Armenia`s technological sector - minister Laws designed to develop Armenia`s technological sector - minister 
Development of nuclear diplomacy for Armenia is a strategic task -  expert Development of nuclear diplomacy for Armenia is a strategic task -  expert 
Converse Bank included in the list of Confirming banks of the EBRD  TFPConverse Bank included in the list of Confirming banks of the EBRD  TFP
Armenian Stock Exchange conducts first-ever government bond switch  actionArmenian Stock Exchange conducts first-ever government bond switch  action
IDBank, Idram, and idplus at the Big Christmas MarketIDBank, Idram, and idplus at the Big Christmas Market
Armenian-Russian Intergovernmental Commission meeting to take place  in MoscowArmenian-Russian Intergovernmental Commission meeting to take place  in Moscow
Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE BoardConverse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board
IFC anchors Armenia`s first sustainability-linked bondsIFC anchors Armenia`s first sustainability-linked bonds
Armenia`s Minister of Economy calls on Greek businesses to make use  of the benefits offered by the countryArmenia`s Minister of Economy calls on Greek businesses to make use  of the benefits offered by the country
Andrew Turner seeking ways to enhance trade relations between Canada  and ArmeniaAndrew Turner seeking ways to enhance trade relations between Canada  and Armenia
Greece interested in stregthening cooperation with Armenia -  Konstantinos Fragkogiannis Greece interested in stregthening cooperation with Armenia -  Konstantinos Fragkogiannis 
Russia leader in Belarussia, Armenia trade Russia leader in Belarussia, Armenia trade 
Armenian, Georgian railroaders coordinate plans for 2025Armenian, Georgian railroaders coordinate plans for 2025
Converse Bank has been included in the list of Confirming Banks of the EBRD TFPConverse Bank has been included in the list of Confirming Banks of the EBRD TFP
Yerevan   to host Armenian-Greek Intergovernmental Commission meeting Yerevan   to host Armenian-Greek Intergovernmental Commission meeting 
Expert: SMR technologies are still futuristicExpert: SMR technologies are still futuristic
RA NA Member: Thanks to EAEU, Armenia experienced significant GDP  growthRA NA Member: Thanks to EAEU, Armenia experienced significant GDP  growth
Armenia, Iran discuss potential for launching joint jewelry  productionArmenia, Iran discuss potential for launching joint jewelry  production
Lifting embargo by Ankara, Baku could mean loss of Armenian economy,  statehood - economist Lifting embargo by Ankara, Baku could mean loss of Armenian economy,  statehood - economist 
Armenia`s economy minister presents assistance programmes for  slaughterhouses Armenia`s economy minister presents assistance programmes for  slaughterhouses 
Armenia`s premier on objective of turnover tax revision Armenia`s premier on objective of turnover tax revision 
Slowly but steadily we are making progress: Health Minister  Slowly but steadily we are making progress: Health Minister  
Lars open for light vehiclesLars open for light vehicles
Armenian interbank foreign exchange  market increased significantly,  while ruble transactions decreasedArmenian interbank foreign exchange  market increased significantly,  while ruble transactions decreased
Acba Bank and IFC to allocate $50 million for MSME  development in  ArmeniaAcba Bank and IFC to allocate $50 million for MSME  development in  Armenia
Armenian authorities approved STARLINK license Armenian authorities approved STARLINK license 
Pashinyan: EAEU ensures economic development dynamics of its member  countriesPashinyan: EAEU ensures economic development dynamics of its member  countries
EBRD and AraratBank Join Forces to Promote Green Economy and Competitiveness in ArmeniaEBRD and AraratBank Join Forces to Promote Green Economy and Competitiveness in Armenia
RA Ministry of Economy, World Bank outline next steps for TRIPRA Ministry of Economy, World Bank outline next steps for TRIP
Loss ratio under MPTL insurance contracts showing continued upward  trend in Armenian insurance marketLoss ratio under MPTL insurance contracts showing continued upward  trend in Armenian insurance market
Armenia, China discuss new areas of collaboration in high- tech  sectorArmenia, China discuss new areas of collaboration in high- tech  sector
"Upper Lars" closed for trucks - Attache
Read more
Exchange rates
20.12.2024
RUB3.850.02
USD395.050.14
EUR410.46-0.52
GBP494.09-5.04
CAD274.660.23
JPY25.200.04
CNY54.130.01
CHF441.540.69


Experts
Are all funds protected in Russian banks?Are all funds protected in Russian banks?
Expert: SMR technologies are still futuristicExpert: SMR technologies are still futuristic
Armenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction RestrictionsArmenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction Restrictions
Read more

Commented
The sale of HSBC Bank Armenia to Ardshinbank to be completed on  November 29, 2024The sale of HSBC Bank Armenia to Ardshinbank to be completed on  November 29, 2024
Armenian government approves 2024-2040 demographic strategy Armenian government approves 2024-2040 demographic strategy 
Armenia`s economy and state competing for sooner collapse -  ex-official Armenia`s economy and state competing for sooner collapse -  ex-official 

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2