ArmInfo.The package of assistance to agriculture in Armenia provides for the zeroing of interest rates for a number of previously programs being implemented with state support. The Minister of Economy of the Republic of Armenia Tigran Khachatryan announced this on March 26 during the government meeting, presenting a package of state actions to the agricultural sector, which was unanimously approved.
In particular, he said, the zero interest rate applies to subsidizing interest rates on agricultural loans for leasing, the introduction of anti-hail networks, innovative irrigation systems, the construction of intensive gardens, breeding livestock, and those individuals and legal entities that receive state subsidies for agricultural loans, regardless activities.
At the same time, he drew attention to the fact that due to the current epidemiological conditions, the state will be ready to subsidize interest rates, even if the maximum rate is 14% (against the previously approved 12%). At the same time, the state is ready to subsidize foreign currency loans, provided that the maximum rate does not exceed 9%. In addition, the assistance package provides for the zeroing of interest rates on microloans, with a maximum amount of up to 1 million drams and a repayment period of up to 2 years.
Particular attention, according to Khachtaryan, will be given to cooperatives, where the state intends not only to subsidize, but also to co-finance. So, according to him, the percentage of co-financing will be commensurate with the percentage of the assignment of the financial institution regarding the requested collateral.
In particular, for co-operatives under the livestock breeding development program, the state co-financing will amount to 70%, for raw materials processing - 30%, installation of anti-hail networks, irrigation systems, intensive gardens - 50%, for general programs - 10%, leasing- 10%. 30% co-financing will also be provided to individuals wishing to engage in pig and poultry farming.
In his turn the Prime Minister asked to be include slaughterhouses of the Republic of Armenia in the list of beneficiaries for co-financing. In general, Pashinyan noted that the introduction of these assistance tools will allow raising the Armenian agriculture to a new qualitative level.
At the same time, he indicated as one of the challenges the training of personnel and the level of qualification of persons who will be appointed as the heads of cooperatives. At the same time, Pashinyan emphasized the need to increase the level of awareness of the residents of the regions of Armenia about the available opportunities and mechanisms of assistance. Summing up, the Prime Minister gave instructions to address these issues to the responsible persons of the relevant departments.
