Fri, 31 October
6.1 C
Yerevan
USD: 382.72 RUB: 4.75 EUR: 444.15 GEL: 141.18 GBP: 504.23

Volume of credits by the program of low rate crediting in agriculture exceeds 2.1 billion drams in Armenia

YEREVAN, April 29. /ARKA/. In the frames of low rate crediting of agriculture which started on April 1 in Armenia, farmers in all the regions of the country have already provided credits in the amount of over 2.1 billion drams, said Chief Executive Director of ACBA-Credit Agricole Bank Stepan Gishyan.

Government of Armenia approved the program of state subsidization of percent rates of agricultural credits, allocating 200 million drams for this purpose. The state will subsidize from 4% to 6%, in the result of which percent rates of credits will be 8-10% for the farmers. Total size of credits is 5 billion drams.

“These are very low rates, taking into account that credits are provided in Armenian drams. It protects the farmers from currency risks and leads to significant activation in the sphere of agriculture”, said Gishyan.

Three Armenian banks participate in crediting of agriculture – ACBA-Credit Agricole Bank, Conversebank and Ardshininvestbank. Today, credits have been provided to 3450 farmers.-0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img