ArmInfo. The government will subsidize 70-80% of interest rates of loans of villagers in the first two years of receiving a loan, Prime Minister of Armenia Karen Karapetyan said at a meeting with representatives of the country's banking system.
"We clearly state the state's share and subsidize interest rates for loans in priority areas of agriculture, light industry, leather processing, footwear production, carpets, and their exports," the prime minister said.
According to him, the diagnosis of agriculture demonstrated the need for a fundamental increase in its effectiveness through the introduction of drip irrigation systems, intensive gardens, greenhouse farms and new agricultural machinery.
"For this purpose, the Ministry of Agriculture has developed the relevant applications, financial formulas. In the first two years of repayment of loans we will stand next to the villagers, subsidizing the overwhelming part of the loan interest rate - 70-80%. "Similar formulas are developed for light industry," Karapetyan said.
The prime minister instructed the subordinates to submit to the banking system applications for financing the voiced spheres.
