Thursday, July 27 2017 10:59
Alina Hovhannisyan

State program on crediting for processing enterprises will be launched in Armenia

State program on crediting for processing enterprises will be launched in Armenia

ArmInfo. To solve the problem of the accumulated debts of processing enterprises to farmers, a pilot state program of crediting representatives of the processing industry will be launched in Armenia while purchasing agricultural products from farmers. The government will allocate 2.4 billion AMD for this state program this year. Deputy Minister of Agriculture Robert Makaryan stated this during the press conference on July 26, noting that in the framework of the pilot program, loans will be available for the purchase of grapes and horticultural crops. According to him, these will be short-term loans with a one-year maturity and an interest rate of 3% per annum. "In the future, 18 billion AMD will be allocated for the implementation of the program of state co-financing, and this will be available for purchases of all types of crops," he stressed.

In particular, the Deputy Minister said that today the program is submitted to the Government of Armenia for consideration, and is expected to be launched from August this year.

To note, the processing enterprises of Armenia from the accumulated for 2015-2016 debts in 1660.4 million AMD to farmers for the supply of grapes, vegetables and fruit crops were repaid as of June 1, 2017 1422.8 million. This amount of debt to farmers accumulated 20 enterprises. The remaining 237.6 million of debt relate to 10 enterprises.

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