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-
