ARMENIAN FARMERS TO GET AMD 7,5 BLN CONCESSIONAL LOANS IN 2012
PanARMENIAN.Net
March 29, 2012 – 17:47 AMT
PanARMENIAN.Net – On March 29, during a meeting in Armenia’s Kotayk
province government amended the decision on specification of funding
mechanisms in the framework of the program “”Economy Stabilization
Lending.”
In this context, Prime Minister of Armenia Tigran Sargsyan noted that
the government granted concessional loans to farmers at the amount
of AMD 14 bln. last year.
“This year we will allocate extra AMD 7,5 bln.,” he said.
Farmers of Kotayk province also benefited from the concessional loans,
with the 90 % of the applications granted.
In 2011, the maximum amount of concessional loans for farmers totaled
AMD 3 mln, with 14 % interest rate, 6-month grace period and up to
2 years maturity.