ArmInfo.The Eurasian Development Bank (EDB), in cooperation with the Armenian government and Yeremyan Farm CJSC, are launching the largest livestock program in Armenia. EDB Chairman of the Management Board Nikolay Podguzov, Armenian Minister of Economy Vahan Kerobyan and Director of Yeremyan Pharm CJSC David Yeremyan signed the corresponding Memorandum of Cooperation on August 5.
The EDB will provide financing for $25 million for the implementation of the project for the construction of a large livestock complex, which will be implemented with the financial support of the Armenian government through subsidizing investment costs.
The loan funds will be used to develop a full production cycle, including the replacement of low-income animals with breeding cattle; expansion of agricultural areas for the production of fodder crops; modernization of assets in order to increase the production of meat and dairy products. The total cost of the complex construction project is estimated at $31 million.
During the press conference that took place after the signing of the Memorandum, it was announced that the complex will be built on an area of 29 hectares in the Tashir community of Lori region and is designed for 1,200 heads of cattle and a pig farm for 580 heads of sows.
A slaughterhouse for both farms, a warehouse for fodder mixtures, land for growing fodder crops and a parking lot for agricultural vehicles will also be built on the territory of the complex.
Farms will comply with established international production and quality standards, animals will be kept in conditions that meet all sanitary requirements, in addition, regular disinfection will be carried out, automatic water supply devices, filters, a ventilation system and an automated feeding system will be installed.
It is planned to receive 700 tons of high-quality pork meat annually, and daily milk production should reach 30 tons.
Nikolay Podguzov, Chairman of the EDB Board, noted that this project is aimed at developing the strategic sector of the agro-industrial complex of Armenia and has significant economic and social effects, such as the development of rural areas, where 36% of the population of Armenia lives, the opening of 300 new jobs, an increase in GDP and providing the population with demanded foodstuffs. "Thanks to the tripartite Memorandum concluded with the government, the work of our Bank on the development of the agro-industrial complex in the country will be coordinated in three planes at once: state necessity; business interest; provision of affordable financing," he said.
In turn, the Minister of Economy of Armenia Vahan Kerobyan expressed his satisfaction with the active work of the EDB in Armenia. "It is very important that the large financial bodies that operate in the region have become more active, as the economy is growing, and, accordingly, the need for financing is also growing," the minister added.
Director General of Yeremyan Projects Group, which will implement the project, David Yeremyan noted that such large investments in the livestock sector of Armenia have not been made over the past 15 years.
"We are introducing a new approach to livestock and milk production, thereby stimulating the development of agriculture and motivating other farms. Thanks to the implementation of the project, we will show that it is possible to engage in high-quality animal husbandry and produce high-quality milk in Armenia", he stressed.
The Eurasian Development Bank (EDB) is an international financial organization that carries out investment activities in the Eurasian space. For 15 years, the EDB has been helping to strengthen and expand economic ties and the comprehensive development of the participating countries - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.
The authorized capital of the EDB is $7 billion. The main share in the EDB portfolio is occupied by projects with an integration effect in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and engineering.
"Yeremyan Projects" Group of companies is one of the leaders in the fields of public catering, restaurant business, service,vocational education, agriculture and food production in Armenia. During the 15 years of its activity, the company has made and implemented more than a dozen projects.
