Thursday, August 3 2017 15:06
Naira Badalian

Armenia will solve problems with arrears to farmers through affordable lending

Armenia will solve problems with arrears to farmers through  affordable lending

ArmInfo. In Armenia, 70 million AMD will be allocated to subsidize  available agricultural loans for procurement companies. On August 3,  the Armenian government approved a program of affordable loans to  representatives of the sphere.

According to the Minister, each year, as a result of the purchasing  season of agricultural products, the debts of the procurement  companies to the farmers of the republic are being formed. In  addition, there is no practice in Armenia to conclude contracts  between a farmer - a procuring company, which would specify the  volumes and prices of purchased products. In this regard, the  Ministry of Agriculture has launched an initiative to introduce a new  program of affordable lending to procurement companies, so far, in  the pilot mode.

As part of the program, the funds saved by the Ministry of  Agriculture in the amount of 70 million AMD will be spent on  subsidizing. The total financing of the program will be 2.4 billion  AMD, loans will be provided at 3% per annum for a period of 1 year.  This will allow the introduction of a new culture of contractual  relations between the farmer and the procuring company, since it is  this condition that will act as the main one, and also make payments  for supplies immediately on the spot. According to the head of the  Ministry of Agriculture, the program can be used by SMEs in the field  of agroproduction purchases (the maximum amount of crediting will be  150 million AMD).

As ArmInfo reported earlier, as of July, Armenia's procurement  enterprises from the accumulated for 2015- 2016. Debt of 1660.4  million AMD to farmers for fruit and vegetables remained 156 million.

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