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".
