{"id":21624,"date":"2011-04-06T12:42:45","date_gmt":"2011-04-06T12:42:45","guid":{"rendered":"https:\/\/armbanks.am\/2011\/04\/06\/232698\/"},"modified":"2024-12-15T12:50:45","modified_gmt":"2024-12-15T12:50:45","slug":"agriculture-still-risky-sector-for-banks-chairman-2","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2011\/04\/06\/21624\/","title":{"rendered":"Agriculture still risky sector for banks: chairman"},"content":{"rendered":"<p><strong>YEREVAN, April 6. \/ ARKA \/.<\/strong> Ashot Osipyan, the chairman of the  Union of Armenian Banks, said today the agriculture is one of the most  risky sectors with specific risky factors which are impossible to  evaluate, for example, climate-caused risks\u00a0 and this is a reason  raising the cost of agricultural loans.<\/p>\n<p>Speaking at a news conference he cited other reasons making  agricultural loans too risky, naming, particularly, absence of  infrastructure. He said it is actually impossible to have agricultural  machinery secured as collateral, the cattle is not registered and there  are also liquidity problems. But despite these constraints lending to  agriculture rose by 19% last year.<\/p>\n<p>\u2018Today virtually all commercial banks offer loans to farmers and five  or six banks have their focus on agro lending . If the problems we have  mentioned above are resolved, agriculture will become more attractive  to banks,\u2019 he said.<\/p>\n<p>According to experts, as of late January the volume of outstanding  loans extended to agriculture stood at 51 billion Drams, making only 6%  in their overall portfolio of loans. Under a government decisions,  farmers in some regions of the country are entitled to soft loans with  14% interest rate, 4% of it will be subsidized by the government. The  government has earmarked 300 million Drams to that end. The loans will  be provided in Armenia\u2019s national currency, the dram. In 2010 loans were  extended to farmers at 24% interest rate.\u00a0 ($1-371.12 Drams). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ashot Osipyan, the chairman of the Union of Armenian Banks, said today the agriculture is one of the most risky sectors with specific risky factors which are impossible to evaluate, for example, climate-caused risks  and this is a reason raising the cost of agricultural loans.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12868,12163,12877,12816,308],"class_list":{"0":"post-21624","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-banks-en-en","7":"category-news","8":"tag-agriculture","9":"tag-banks","10":"tag-risks","11":"tag-sector","12":"tag-308"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/21624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=21624"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/21624\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=21624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=21624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=21624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}