Tuesday, June 26 2018 13:13

ArmInfo.According to the operative data, for the period from September 14, 2017 to May 1, 2018, Armenian farmers were granted 3 thousand agricultural loans  worth 13.5 billion drams. The average volume of one loan was 4.5  million drams, according to the press service of the RA Ministry of  Agriculture.

According to the source, only from 1 January to 1 May this year,  2,087 agricultural loans were issued for a total of 9.3 billion  drams. The average loan size was 4.5 million drams. In order to  obtain credit resources, the Agricultural Development Fund conducted  400 program courses, in which there were 10,300 individuals and legal  entities, including agricultural cooperatives, and 9,800 subjects  were certified.

In 2018, within the framework of the interest rate subsidization  program, it is envisaged to provide loans to farmers and farmers in  the amount of 9.4 billion drams for 2100 beneficiaries. Under the new  program, the terms of the loans are reviewed, the average size of  which is 3-10 million drams with a maturity of 5 years, based on  investment directions. For farmers in border areas and agricultural  cooperatives, the interest rate subsidy is 3%, for the remaining  communities - 5%. The basis for granting loans is a certificate of  completion of training courses organized by the Agricultural  Development Fund.

Before the start of the program, a tripartite memorandum was signed  between the Ministry of Agriculture of RA, the office for the  implementation of the program "Development of rural territories", as  well as a number of financial organizations - AGBA-CREDIT AGRICOLE  BANK, universal credit organization (UCO) CARD Agro- UCO "PHARM  credit Armenia", UCO "Armenian corporation for development and  investments", UCO "Kamurj" and "Conversbank".