Armenian farmers to benefit from preferential loans

August 24, 2012 – 19:55 AMT

PanARMENIAN.Net – 35 600 farmers have already benefited from
government-allocated agriculture preferential loans, Agriculture
Minister said.

Sergo Karapetyan noted that starting from September, Armenian farmers
will get preferential loans at the amount of AMD 7,5 bln.

He further said that the program will bear a consistent nature, with
loan terms probably to be reconsidered to boost their accessibility
for villagers.

In 2011, preferential loans at the amount of AMD 17,4 bln. were
allocated to 25 200 farmers in two stages, with 9 100 beneficiaries
having received AMD 7,4 bln. subsidized loans in 2012

The maximum amount of preferential farm loans allotted totals AMD 3
mln with 14% lending rate, 6-month grace period and up to 2 years of
maturity date with no early repayment penalties.