{"id":42796,"date":"2012-10-24T16:23:23","date_gmt":"2012-10-24T16:23:23","guid":{"rendered":"https:\/\/armbanks.am\/2012\/10\/24\/236644\/"},"modified":"2024-12-15T13:00:12","modified_gmt":"2024-12-15T13:00:12","slug":"armenian-farmers-provided-30-million-loans-through-universal-crediting-organizations","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/10\/24\/42796\/","title":{"rendered":"Armenian farmers provided $30 million loans through universal crediting organizations"},"content":{"rendered":"<p><strong>YEREVAN, October 24. \/ ARKA \/. <\/strong>The project office for implementation of projects, affiliated with  Armenia\u2019s ministry of finance, has provided farmers  across the country with more than $ 30 million in loans to finance about 1,056 programs,  the office told ARKA.<\/p>\n<p>The project implementation office known as &#8220;Rural Financing Structure&#8221; oversees the process of signing agreements with various crediting organizations for the development of small and medium-sized agricultural businesses. The finances are provided from loans issued by  IFAD and the World Bank  International  Development Agency.<\/p>\n<p>The size of loans may reach up to 60 million drams or an equivalent in USD. They are  repayable in seven years with an 18-month grace period.<\/p>\n<p>According to project implementation office head,  S.Virabyan, new financing mechanisms were developed  and introduced for universal crediting organizations.<\/p>\n<p>&#8220;We are currently working with seven credit institutions specializing in the agricultural sector, five of which  renegotiated borrowing agreements in September. Under the new agreements, the project implementation office has announced a tender for providing $300,000 in fresh funding, &#8221; he said.<\/p>\n<p>According to Virabyan, the application of each crediting organization will be considered separately, and priority will be given to the organization that will provide sub-loans at the lowest annual rate.<br \/>\n&#8220;We provide funding in USD  and drams in line with the requirements of the Armenian financial market, and based on the characteristics of different segments of agriculture,&#8221;  he said. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project office for implementation of projects, affiliated with Armenia\u2019s ministry of finance, has provided farmers across the country with more than $ 30 million in loans to finance about 1,056 programs, the office told ARKA<\/p>\n","protected":false},"author":1,"featured_media":150094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12202,9216],"tags":[15837,12142,13257,12688],"class_list":{"0":"post-42796","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-loan-organizations","8":"category-news","9":"tag-armenia-2","10":"tag-credit","11":"tag-farmer","12":"tag-armenia-analyst-inflation"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/42796","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=42796"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/42796\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/150094"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=42796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=42796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=42796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}