YEREVAN, March 23, /ARKA/. Armenian prime minister Tigran Sarkisian promised Tuesday ‘significantly’ lower interest rates on loans for farmers as he met with residents of Avan rural community in Aragatsotn province.
Speaking earlier this month to journalists after an extraordinary meeting with prime minister Tigran Sarkisian and his Cabinet ministers dealing with the economy, president Serzh Sargsyan said there was a need for new agricultural projects. He said the ministry of agriculture and the government must be “very active” in fostering the sector’s recovery, adding also that the prime minister, the deputy prime minister and all ministers must pay regular visits to rural communities, look into farmers’ problems. He said the rural population must be shown t they are not all alone with their problems and that the government is also interested in helping solve them
According to government press office, Tigran Sarkisian told residents of Avan community yesterday that the decision on lowering interest rates on agricultural loans will be made after a consultation with top managers of Armenian banks.
According to Central Bank of Armenia data, the average interest rate on agricultural loans in 2010 December repayable in one year was 23.4%, and 21.9% for loans repayable in 1-5 years. Loans in foreign exchange were extended at an average 15% interest rate repayable in 12 months and at 18.3% for loans repayable in 1-5 years. -0-
