Armenian farmers can borrow at an affordable interest rate

ArmInfo. The process of harvesting of horticultural crops by processing enterprises continues in Armenia. Minister of Agriculture Ignaty Arakelyan traced the harvesting process, the press service of the ministry reported.

According to the source, the minister presented the government's initiatives on the development of agriculture, including by providing.

In particular, the companies will be able to attract credit resources at a rate of 3.5% with a term of Repayment in 1 year. At the same time, the loan amount should not exceed 150 million drams. The total cost of the program is about 2.4 billion drams. The funds will be provided immediately to enterprises. The Minister also informed that, as of August 10, about 16,000 tons of fruit and vegetable crops have already been harvested in the country.

Speaking about the debts accumulated in the past years, Ignat Arakelyan noted that the debts accumulated by the company "Vinar", which still have debts to the farmers, continue to be problematic. The Ministry of Agriculture in this regard appealed to law enforcement agencies with a request to repay debts due to the company's residual resources.

Heads of the companies during the meeting with the head of the ministry stressed the importance of the new programs of the ministry, pointing out that thanks to these projects in the near future there will be an opportunity to increase production volumes. Minister Arakelyan informed in this connection that changes were made in the interest rates for partial subsidization of the expenses of peasant farms. So, farmers will be given loans at 5% per annum, and peasants who use social assistance - at 3%. The loans will be provided for a period of 5 years, the minimum loan size will be 3 million drams, and the maximum amount will be 10 million drams.