Tuesday, August 15 2017 09:55
Alexandr Avanesov

Armenian farmers can borrow at an affordable interest rate

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.


News
Pashinyan receives Executive Director of World Trade Centers  AssociationPashinyan receives Executive Director of World Trade Centers  Association
Vahan Kerobyan on goals of MoE: Vahan Kerobyan on goals of MoE: "Dry Port" of Gyumri will provide 3%  of Armenia`s GDP 
Evocabank replenishes its share capitalEvocabank replenishes its share capital
"The state collects taxes from the economy, but does not spend, thus  reducing economic activity": Luys Foundation 
Investin.am business portal for Private Equity has been launched in  ArmeniaInvestin.am business portal for Private Equity has been launched in  Armenia
YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%
Branch of International Coaching Federation has been opened in  ArmeniaBranch of International Coaching Federation has been opened in  Armenia
Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 
RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022
MoE reports on results of World Bank`s CARMAC2 programMoE reports on results of World Bank`s CARMAC2 program
Central Bank of Armenia: Prices for food and energy  are expected  to stay at high levelCentral Bank of Armenia: Prices for food and energy  are expected  to stay at high level
CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
Evocabank to help Armenian postal operator introduce financial  servicesEvocabank to help Armenian postal operator introduce financial  services
Remittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of ArmeniaRemittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of Armenia
Armenia, Iran reached agreement to remove obstacles to increase trade  between two countriesArmenia, Iran reached agreement to remove obstacles to increase trade  between two countries
Wildberries launches direct sales from Armenian entrepreneursWildberries launches direct sales from Armenian entrepreneurs
Armenia`s Minister of Economy WB Country Manager discuss CARMAC IIArmenia`s Minister of Economy WB Country Manager discuss CARMAC II
Armenian, UAE  FMs discuss bilateral cooperation Armenian, UAE  FMs discuss bilateral cooperation 
Armenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration systemArmenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration system
According to UBA level of profitability of the Armenian banking  system is quite lowAccording to UBA level of profitability of the Armenian banking  system is quite low
$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan
Converse Bank bonds can now be purchased via the mobile applicationConverse Bank bonds can now be purchased via the mobile application
UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1
Seyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank depositsSeyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank deposits
UBA: Volumes of lending to the Armenian economy have grown in almost  all areasUBA: Volumes of lending to the Armenian economy have grown in almost  all areas
Team Telecom Armenia to start business data center construction Team Telecom Armenia to start business data center construction 
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 
Armenia`s government to allocate  $10mln to road renovation Armenia`s government to allocate  $10mln to road renovation 
Passenger traffic in Armenia reached 40% growth in Q1Passenger traffic in Armenia reached 40% growth in Q1
Armenia, Iran simplify mutual access of investors to FEZ markets of  two countriesArmenia, Iran simplify mutual access of investors to FEZ markets of  two countries
Armenia`s communications sector revenue in Q1 2022 increased by 6.8%Armenia`s communications sector revenue in Q1 2022 increased by 6.8%
Armenia reduced wine production in Q1Armenia reduced wine production in Q1
Pashinyan receives Alexei Overchuk and Andrey RudenkoPashinyan receives Alexei Overchuk and Andrey Rudenko
Tourist flow to Armenia starts to recoverTourist flow to Armenia starts to recover
ARMSWISSBANK receives EBRD award ARMSWISSBANK receives EBRD award "The most Active Issuing Bank in Armenia for 2021"
Natural population decline was recorded in Armenia Natural population decline was recorded in Armenia 
Armenia`s population decreased by 2.3 thousand people by April 1,  2022Armenia`s population decreased by 2.3 thousand people by April 1,  2022
S&P Global Ratings assigns S&P Global Ratings assigns "B-" (Local Currency LT credit rating) to  ASCE Group
Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister 
Turkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar MehrabianTurkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar Mehrabian
Armenia, Iran to consider to increasing gas supplies from Iran to  ArmeniaArmenia, Iran to consider to increasing gas supplies from Iran to  Armenia
Hayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedientHayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedient
Armenia, Iran to sign memorandum to develop cooperation in number of  areasArmenia, Iran to sign memorandum to develop cooperation in number of  areas
Another intermediate subway station to be built in YerevanAnother intermediate subway station to be built in Yerevan
FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concludedFinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded
Armenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  businessArmenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  business
Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022
Armenia`s specific debt burden per capita has already reached $3.2  thousandArmenia`s specific debt burden per capita has already reached $3.2  thousand
Russia, China remain leaders in Armenia`s exports, imports Russia, China remain leaders in Armenia`s exports, imports 
Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University 
Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022
Electricity generation increased by 16.7% in Armenia in Q1 2022 Electricity generation increased by 16.7% in Armenia in Q1 2022 
Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 
About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant 
Metallurgical industry of Armenia reduced production volumes by 17%  in Q1 2022Metallurgical industry of Armenia reduced production volumes by 17%  in Q1 2022
Turkish aviation authorities closed their airspace to FLYONE ARMENIA  European destinationsTurkish aviation authorities closed their airspace to FLYONE ARMENIA  European destinations
In Q1 2022 more than 8 thousand tons of aluminum foil were produced  in ArmeniaIn Q1 2022 more than 8 thousand tons of aluminum foil were produced  in Armenia
Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 
IBRD to grant a 22.6 mln euro loan to Armenia under education programIBRD to grant a 22.6 mln euro loan to Armenia under education program
Armenia`s trade turnover up by $1bln Jan 1 to Apr 20Armenia`s trade turnover up by $1bln Jan 1 to Apr 20
Read more


Exchange rates
17.05.2022
RUB7.18-0.03
USD454.86-0.13
EUR478.293.51
GBP567.078.89
CAD354.922.82
JPY35.17-0.01
CNY67.040.00
CHF456.873.60