Sun, 28 September
24.1 C
Yerevan
USD: 382.71 RUB: 4.59 EUR: 446.43 GEL: 141.38 GBP: 510.80

Armenian farmers may claim loans at 2 percent rate

YEREVAN, August 2. /ARKA/. As part of a project designed to encourage Armenian farmers to switch to drip irrigation, the latter will be able to receive loans at a rate of 2% per annum for a period of three years, the press service of the Ministry of Agriculture said today.

Minister of Agriculture Ignaty Arakelyan traveled today to Armavir region, where he met farmers and discussed all the problems that concern them, the ministry said.

It said the minister advised the farmers to switch to drip irrigation, saying that the ministry had prepared a state assistance program for those who will do so.

“This program will enable to effectively use water and land resources, reduce water consumption by 40%, ensure a 40% increase in yield, improve the quality of the crop and expand the volume of cultivated land,” the ministry said.-0-

spot_img

POPULAR

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.

“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.

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

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

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

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.

LATEST NEWS

spot_imgspot_imgspot_img