Wednesday, May 12 2021 19:32

ArmInfo. The state program to promote the development of leasing services in Armenia will be available for business entities until December 31, 2021. This was  reported by the press service of the Ministry of Economy of Armenia.

In particular, it is reminded that individuals and legal entities  (including local governments), individual entrepreneurs who meet the  financial requirements of creditworthiness from banks or credit  companies participating in the program can participate in the  program.

According to the state program, leased subjects (mainly agricultural  machinery) will be available to lessees at a rate of 0% per annum,  with a maturity of 3 years, with a grace period of 6 months. The  equipment is provided subject to an initial payment of 20% of the  cost. The total cost of the purchased equipment within the framework  of the state program should not exceed 200 million drams.

According to the source, the following agricultural equipment can be  leased under the program: tractors, combines, tractor seeders, plows,  potato planters and potato diggers, cultivators, etc.

To participate in the program, business entities must apply to a  leasing company participating in the state assistance program.

According to the Ranking of Banks and Credit Companies of Armenia at  March 31, 2021, prepared by ArmInfo IC, the total volume of the  leasing portfolio exceeded 49 billion drams ($ 92.4 million), with a  y- o-y growth of 44%. Moreover, 7 banks operate in terms of leasing  operations, among which ACBA Bank (through the leasing company  ACBA-Leasing) is the leader in terms of volume - about 26 billion  drams (y- o-y growth by 19%), and the second place is occupied by  Ameriabank - about 18 billion drams ( y-o-y growth of 85.1%). There  are 4 specialized leasing companies operating in Armenia, among which  ACBA Leasing is the undisputed leader, Agroleasing takes the second  place, with a significant breakaway in terms of volume, and the third  place is occupied by a new player - Armleasing company.