Prosperous Armenia MP Critical Of Agricultural Lending Policy

PROSPEROUS ARMENIA MP CRITICAL OF AGRICULTURAL LENDING POLICY

15:01 17.09.13

Artur Stepanyan, a Board member, Central Bank of Armenia (CBA),
informed Armenia’s Parliament on Tuesday of new agricultural loans
at an annual interest rate of 14%.

He also reported better credit repayment.

Lyova Khachatryan, a Prosperous Armenia Party (PAP) parliamentary
group member, got indignant at the official’s statement. “Your loans
at relatively low interest rates are for people take out in order to
repay the higher-interest loans they took out earlier and have since
been unable to repay. They have not been invested in agriculture,”
Khachatryan said.

In response, Stepanyan said that loans totaling AMD 115bn have been
granted. “And the 14% annual interest rate in the lowest rate the
banks set for the agricultural sector,” he said.

Armenian News – Tert.am

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS