ArmInfo. Within the framework of the agricultural insurance project, the state contributes 50% of the cost of the insurance policy (against the previously called 60-65% - Ed.).
This was announced on April 15 at a press conference by the acting president. Minister of Agriculture of Armenia Gegham Gevorgyan.He noted that the pilot project on agricultural insurance had already started in 5 regions of the republic - Armavir, Ararat, Aragatston, Tavush, Vayots Dzor and Kotayk.At the initial stage, as G. Gevorgyan noted, insurance will affect apricots and grapes, and hail and frost are determined by the risks falling under insurance
According to the Ministry of Agriculture, the German KfW bank should allocate a grant of 5.3 million euros for the implementation of a pilot program for the implementation of the agricultural insurance system in Armenia. The principal amount of a grant of 4.8 million euros should be directed exclusively to subsidize the purchase of insurance policies by farmers. The remaining amount of 515 thousand euros will go to cover the costs associated with consulting. At the same time, the RA Government represented by the Ministry of Agriculture will co-finance the program in the amount of 5 million euros. Climate Investment Fund (Climate Investment Funds) will also provide 2 million euros, of which 200 thousand euros will be used to subsidize the purchase of insurance policies, and 1.8 million euros - for consulting services. Consulting will be handled by a consortium of three companies. The creation of the Bureau for National Risk Management in the field of agricultural insurance, retraining of personnel and the formation of an institute of an appraiser, the development of secondary legislation and the services of a consulting company will be allocated1.9 million euros.