ARMENIAN AGRICULTURE MINISTER MEETS WITH IFAD REGIONAL COORDINATOR

ARKA
March 14, 2008

YEREVAN, March 14. /ARKA/. Armenian Minister of Agriculture
Davit Lokyan said the measures implemented in Armenia within the
International Foundation for Agriculture Development (IFAD) have been
highly effective.

Lokyan made this statement while meeting with IFAD Regional
Coordinator H.

Peterson. The sides discussed implementation of IFAD programs in
Armenia focusing on the credit program for development of rural areas.

The sides also discussed the measures to be taken within the "Market
opportunities for farmers" joint program aimed at improving the social
and economic conditions of Armenia’s rural population. It envisions
assisting the farms and processing enterprises, as well as meeting
the demand for small and medium-sized agricultural credits.

Peterson said he hopes IFAD will also fund management, marketing and
accounting training courses in Armenia.

The Armenian minister spoke of the possibility for Armenia to be
granted another IFAD and OPEC credit which will help raise the level
of wheat and corn production in Armenia.

Armenia and IFAD signed an agreement on extending an $11.9mln loan
and a $500,000 grant to Armenia. The agreement was signed last January.

IFAD has funded several such programs with a total cost of $64.2mln in
Armenia. The first IFAD program – restoration of irrigation systems –
was launched in 1996.

IFAD is a UN institution founded 30 years ago. So far, it has extended
loans of $10bln and has funded 700 projects assisting 300 million
poor people living in rural areas of different countries.