Minister: 12 companies-procurers have applied for participation in the program of preferential crediting of processing enterprises

ArmInfo. As of September 11, 12 companies-procurers have applied for participation in the program of preferential crediting of processing enterprises. This was reported by the Minister of Agriculture of Armenia Ignaty Arakelyan on September 11 in a conversation with reporters.

According to Arakelyan, the Ministry of Agriculture hopes that by providing low-cost credit resources, in a certain sense will solve the problem of timely payment of the amounts for harvested crop to the country's farms. "Within the framework of the pilot, the farm will receive a loan of up to 150 million AMD, and if it is successfully implemented, the program will be expanded to 1 billion AMD," the minister said.

To recall, 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 AMD. In order to avoid similar situations in the future and for the purpose of providing working capital for harvesting enterprises, the Ministry of Agriculture of Armenia, while still in pilot mode, offers a new program of affordable loans for processing enterprises. 2.3 billion AMD will be allocated for the financing of the program, loans will be issued for a period of 1 year, at 3% per annum. Of the nearly 100 processing enterprises, about 20 of them can benefit from the program.