12 MILLION DOLLARS TO AGRICULTURE OF ARMENIA

Lragir
Jan 10 2008
Armenia

IFAD lends 11.9 million dollars to Armenia and grants 500 thousand
dollars for the project of development of farming. The loan is due
repayment in five years, the annual interests rate is 0.75 percent,
ARKA reports. The total cost of the project is 32.2 million, OPEC
finances 10 million dollars, and the Armenian government contributes
5 million dollars. The goal of the project is to take the production
of farmers to the market and extend management skills.