Within framework of state program for acquisition of agricultural machinery in leasing of agrarians Armenia received 17 units of tractors and 8 units of other equipment

ArmInfo. As of June 9, 17 units  of tractors and 8 units of other equipment were received as part of  the state assistance program for the acquisition of agricultural  machinery in the leasing of agrarians of Armenia.

According to the press service of the RA Ministry of Agriculture, 13  applications have been approved for the purchase of tractors, 19 more  are under consideration. In addition, the investment program of two  companies is being studied to create machine and tractor stations in  the regions of the country. The total cost of the project is 350  million AMD. At present, credit organizations such as "Investments in  small and medium business", "Card Agro Credit" and "AGBA Leasing" are  involved in the implementation of the program.

To recall, since March 27, Armenia began accepting applications for  the purchase of agricultural equipment in leasing. According to the  program approved by the government, farmers will have opportunity to  purchase agricultural machinery in leasing at a rate of 2% per annum.  Another 7% will be subsidized by the state. As a result, it is  expected that in 2017 about 2.2 billion AMD will be allocated for the  purchase of agricultural machinery. To subsidize within the framework  of the program of providing agricultural machinery for leasing in the  next 6 years in Armenia, it is planned to allocate 500 million AMD,  and in 2017 - 120 million AMD. If there is more demand, the  government promised to consider the possibility of increasing its  volume. "The beneficiaries of the program will be able to purchase  agricultural equipment on favorable terms - at a rate of 2% per annum  with a maturity of 3-10 years (small equipment - 3 years, tractors -  6, harvesters - 10)," Minister of Agriculture Ignaty Arakelyan said  on 17 March.

According to the Financial Rating of Banks and Credit Companies of  Armenia prepared by IC ArmInfo, the volume of leasing operations for  the year of 2016 increased by 11%, amounting to 16.7 billion AMD. The  main supplier of leasing services is the company ACBA Leasing, in the  portfolio of which the agricultural sector accounts for only 3% of  the investment.