Tuesday, November 22 2016 11:37
Naira Badalian

German side ready to render agro insurance grant funding  in Armenia

German side ready to render agro insurance grant funding  in Armenia

ArmInfo. To increase the regional standing  of  Armenia, the most important is the implementation of the efficient management principles and the consequent struggle against corruption, and the unification of the power, Matthias Kiesler, the Ambassador of Germany to Armenia, stated on the margins of the session of  German-Armenian Commission on financial and technical cooperation, held at the Ministry of Finance of Armenia. 

As the press office of the Ministry of Finance states, during the session the  Germany -funded  projects under implementation were also discussed, particularly, in respect to the further funding by the German Bank of Development KfW, projects on solid household waste management in Vanadzor and project on support in the field of energy saving etc.

According to Armen Hayrapetyan, Armenian Deputy Finance Minister, German-Armenian intergovernmental cooperation  has  long and productive history, which is  a good basis for the further improvement of cooperation and good relationship.

As  Matthias Kiesler, the Ambassador of Germany to Armenia, stated, Germany is one of the biggest financial donors for Armenia. According to him, to increase the regional authority of Armenia, the main priority is to implement principles of effective management and the consequent struggle  against the corruption.

During the session issues, related to agro insurance  implementation in Armenia, were also discussed, and the German side expressed readiness to allocate grant funds.

The agenda comprised also other projects, implemented at the cost of regional grant funds, particularly, the Caucasus Nature Fund Project, the Southern Caucasus Biodiversity Management Project etc.

To recall, Minister of Agriculture of Armenia Ignaty Arakelyan told reporters on September 29 that a pilot program of agricultural insurance will be implemented in one of the Armenian communities. In his words, the agricultural sector is the most risky one. If the pilot program is a success, we will find solutions to all problems of farmers connected with the activity of anti-hail stations, pests and others, Arakelyan said.

Earlier in May 2011, then Prime Minister Tigran Sargsyan said introduction of agricultural insurance is inexpedient in Armenia, as the sector comprises just small farms, while farmers will hardly make insurance payments. Nevertheless, KfW Bank allocated 400,000 EUR this year for development of a concept of agricultural insurance for Armenia and Georgia. Yet in late 2014, Minister of Agriculture Sergo Karapetyan said at a final press conference of the Ministry that in 2015 together with INGO Armenia the Ministry planned to implement a pilot program of cattle insurance in Vayots Dzor region. Where the inventory of the cattle was over. He said no other insurance company agreed to undertake such risks.

Meantime, INGO Armenia executive officer is not pleased with the results of the activity of the joint working group.  He said the working group was set up in 2013. It comprised one employee of INGO Armenia and 3 employees of the Ministry of Agriculture. The risks were assessed. That was all the group did.  "Agricultural sector, especially the one in Armenia, suffers high losses due to several factors. The first is concentration of all risks on the not-large territory.  Second is the risk of nearly all types of natural calamities - floods, freezing, hails, and landslides. Agriculture insurance in such case must be semi- compulsory so that at least 30%-50% of farms are insured.  Otherwise, it is unreasonable to insure the sector," Altunyan explained. German KfW Bank once expressed an interest in such insurance product, but the company lost its interest in the agricultural sector and the group was dissolved 5-6 months ago. The insurer promised to return to this issue when "an element of commerce emerges in the given sector and the insurance of the agricultural sectors becomes economically substantiated.  Otherwise, the scientific research institutions should study the sector," he said.

POST A COMMENT
Input digits     


News
Armenia, Brazil to strengthen trade and economic tiesArmenia, Brazil to strengthen trade and economic ties
Armenia to get EUR 92.3mln WB loan for budget deficit coverage Armenia to get EUR 92.3mln WB loan for budget deficit coverage 
Amazon Web Service to assist Armenia in old film digitizationAmazon Web Service to assist Armenia in old film digitization
Ameriabank honored as the Best Investment Bank in Armenia for 2023 by Global Finance Ameriabank honored as the Best Investment Bank in Armenia for 2023 by Global Finance 
Expert: Expenditures of Dry Port project exceed $100 millionExpert: Expenditures of Dry Port project exceed $100 million
Armenia Securities Exchange launches AMXTrader new trading system for  financial market participantsArmenia Securities Exchange launches AMXTrader new trading system for  financial market participants
Armenia`s economic indicators impressive in 2022 - IFC Armenia`s economic indicators impressive in 2022 - IFC 
Armenia welcomes Belarusian construction companies Armenia welcomes Belarusian construction companies 
FlyOne Armenia launches Yerevan - Larnaca - Yerevan direct flights FlyOne Armenia launches Yerevan - Larnaca - Yerevan direct flights 
Vahan Kerobyan: AMD 40 billion were returned to borrowers under 2022  state subsidy program for mortgage loansVahan Kerobyan: AMD 40 billion were returned to borrowers under 2022  state subsidy program for mortgage loans
Armenian winemakers participating in ProWein international trade fair  in DusseldorfArmenian winemakers participating in ProWein international trade fair  in Dusseldorf
Armenia`s vice-premier receives IMF repsArmenia`s vice-premier receives IMF reps
Armenia`s premier hosts IMF delegationArmenia`s premier hosts IMF delegation
Armenia`s Ministry of Economy draft law to introduce English law  jurisdiction - minister Armenia`s Ministry of Economy draft law to introduce English law  jurisdiction - minister 
U.S., Canadian and European companies interested in projects in  Armenia`s Syunik - Paruyr HovhannisyanU.S., Canadian and European companies interested in projects in  Armenia`s Syunik - Paruyr Hovhannisyan
Enterprise Armenia supporting 40 projects worth $2.4-3.2bln - premier Enterprise Armenia supporting 40 projects worth $2.4-3.2bln - premier 
In 2022 vs. 2021, number of RA citizens on migration registration in  RF decreased by 15% - ACSESIn 2022 vs. 2021, number of RA citizens on migration registration in  RF decreased by 15% - ACSES
Deputy PM, AmCham representatives discuss Russian-Ukrainian conflict  impact on Armenian economyDeputy PM, AmCham representatives discuss Russian-Ukrainian conflict  impact on Armenian economy
Armenia, Georgia discuss possibilities of expanding cooperation in  tourism sectorArmenia, Georgia discuss possibilities of expanding cooperation in  tourism sector
Rostelecom changes its mind about selling its Armenian subsidiary GNC  AlfaRostelecom changes its mind about selling its Armenian subsidiary GNC  Alfa
Yerevan hosts 19th International Specialized Caucasus Exhibition:  Building and Reconstruction EXPO 2023 Yerevan hosts 19th International Specialized Caucasus Exhibition:  Building and Reconstruction EXPO 2023 
Armenia`s Deputy Minister of Economy hosts UNCCD delegation  Armenia`s Deputy Minister of Economy hosts UNCCD delegation  
Threshold for duty-free importation of goods into EAEU for  individuals at level of EUR 1000 may return to previous level Threshold for duty-free importation of goods into EAEU for  individuals at level of EUR 1000 may return to previous level 
Saudi Flynas airline to launch flight to Yerevan in summerSaudi Flynas airline to launch flight to Yerevan in summer
Vahan Kerobyan: Turkey actively buys gold from Armenia, while  selectively buying other productsVahan Kerobyan: Turkey actively buys gold from Armenia, while  selectively buying other products
CBA Head: Surveys show that international visitors have begun making  long-term plans for Armenia and its economyCBA Head: Surveys show that international visitors have begun making  long-term plans for Armenia and its economy
Central Bank Head: FAO index has stabilized and there are no new  upward trendsCentral Bank Head: FAO index has stabilized and there are no new  upward trends
Martin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategyMartin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategy
CBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main driversCBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main drivers
Western sanctions against Russia pose a threat to Armenia - PMWestern sanctions against Russia pose a threat to Armenia - PM
New Armenia-ADB cooperation strategy under developmentNew Armenia-ADB cooperation strategy under development
AraratBank joins the United Nations Women`s Empowerment Principles InitiativeAraratBank joins the United Nations Women`s Empowerment Principles Initiative
Armenia`s CB leaves refinancing rate unchanged, 10.75%Armenia`s CB leaves refinancing rate unchanged, 10.75%
With organizational support of Ameriabank and SPRING PR, first  With organizational support of Ameriabank and SPRING PR, first  "Doing Digital-Exploring Digital Future" forum to be held in Yerevan  on April 5
Armenia, Egypt discuss possible cooperation in renewable energy,  energy infrastructuresArmenia, Egypt discuss possible cooperation in renewable energy,  energy infrastructures
 State Control Service returned about 121 million drams to budget in  2022 State Control Service returned about 121 million drams to budget in  2022
Vahan Kerobyan: No outflow of immigrants is expected in near futureVahan Kerobyan: No outflow of immigrants is expected in near future
Vahan Kerobyan: During the year, 7,328 companies and individual  entrepreneurs were registered in Armenia by Russian citizensVahan Kerobyan: During the year, 7,328 companies and individual  entrepreneurs were registered in Armenia by Russian citizens
This year, demand is gradually stabilizing, and growth of Armenian  economy to be 4.2% - EDBThis year, demand is gradually stabilizing, and growth of Armenian  economy to be 4.2% - EDB
Global economic recession risks remain significant - EDBGlobal economic recession risks remain significant - EDB
"MTS Armenia" changes its owner
Armenia`s former premier records absolute decline in population`s  living standards for 2018-2022Armenia`s former premier records absolute decline in population`s  living standards for 2018-2022
Armenia on way to modernization of major branches of its economy -  vice-premierArmenia on way to modernization of major branches of its economy -  vice-premier
Karen Karamyan: 70% of Ameriabank`s business loans are provided  through Ameria Business online platformKaren Karamyan: 70% of Ameriabank`s business loans are provided  through Ameria Business online platform
Ameriabank`s cosmic pavilion at DigiTec: Digital services,  consultations, lotteries, charity, discussionsAmeriabank`s cosmic pavilion at DigiTec: Digital services,  consultations, lotteries, charity, discussions
Armenia plans to start negotiations with India to raise funds for  construction project of Persian Gulf-Black Sea corridorArmenia plans to start negotiations with India to raise funds for  construction project of Persian Gulf-Black Sea corridor
Hayk Yesayan: Team always has and will have innovative solutionsHayk Yesayan: Team always has and will have innovative solutions
IDBank - participant of DigiTec ExpoIDBank - participant of DigiTec Expo
Armenia`s GDP growth in 2018-2022 qualitatively significantly lower  than in previous 3 five-year plans - Hrant BagratyanArmenia`s GDP growth in 2018-2022 qualitatively significantly lower  than in previous 3 five-year plans - Hrant Bagratyan
Team Telecom Armenia is first among Armenia`s telecom operators to  provide access to 5G networkTeam Telecom Armenia is first among Armenia`s telecom operators to  provide access to 5G network
Vahan Kerobyan: Armenian companies do not fully exploit opportunities  in innovative termsVahan Kerobyan: Armenian companies do not fully exploit opportunities  in innovative terms
U.S. warning against countries` help to Russia: Armenia`s government  takes everything into account - MPU.S. warning against countries` help to Russia: Armenia`s government  takes everything into account - MP
3.5% decline in living standard of average statistical employee in  Armenia 3.5% decline in living standard of average statistical employee in  Armenia 
Turkey suddenly stops  transit of sanctioned goods to RussiaTurkey suddenly stops  transit of sanctioned goods to Russia
American SADA to contribute to digitalization of Armenian education  systemAmerican SADA to contribute to digitalization of Armenian education  system
Armenia`s rank fell by 19 points in WIPO Global Innovation Index.  Economist advises to update data on timeArmenia`s rank fell by 19 points in WIPO Global Innovation Index.  Economist advises to update data on time
Armenia`s travel agencies lost 25% of income in 2022 due to dram  revaluationArmenia`s travel agencies lost 25% of income in 2022 due to dram  revaluation
FLYONE ARMENIA replenishes its aircraft fleetFLYONE ARMENIA replenishes its aircraft fleet
Armenia increases its share in EDBArmenia increases its share in EDB
AraratBank committed to the Sustainable Development Goals of the United NationsAraratBank committed to the Sustainable Development Goals of the United Nations
Read more


Exchange rates
23.03.2023
RUB5.100.06
USD388.330.16
EUR422.313.40
GBP477.370.43
CAD283.930.59
JPY29.580.35
CNY56.520.03
CHF423.622.61