Portfolio of the program of subsidizing agro-credits in the  processing sector of Armenia in 2018 amounted to 18 billion AMD

ArmInfo.The portfolio of the  program of subsidizing the interest rates of agrocredits in the  processing sector of Armenia in 2018 was 18 billion drams. As the RA  Ministry of Agriculture press-service informs, the maximum loan  amount per one borrower reaches 1 billion AMD.

According to the source, as of June 19 this year. 13 enterprises  submitted applications for a loan to the Ministry for a total of  3.060 billion AMD, which were satisfied. As of May 31 this year.  banks approved 2 applications for 489 million drams, and the rest are  under consideration.

According to the Agriculture Ministry data, in 2017, 25 applications  for loans were submitted, of which 20 were approved for a total of  1.341 billion AMD.

To recall, a pilot program to subsidize interest rates of  agricultural loans for the purpose of harvesting agricultural raw  materials in the processing industry was launched in 2017. Under the  terms of the program, the borrower received a loan at an interest  rate of 3%, instead of the previous 12% (the state subsidizes 9%). 12  banks - ACBA-Credit Agricole Bank, Ameriabank, ARARATBANK,  Ardshibank, Armswissbank, INECOBANK, Converse Bank, Armbusinessbank,  ArmInfo, Evokabank, Byblos Bank Armenia, VTB Bank (Armenia), as well  as 3 universal credit companies ( UKK) - , and DICA (formerly called SME Investments).