KfW to provide Armenia with 5 million euro grant for pilot agriculture insurance project

Emil Lazarian 2018
ARKA, Armenia
Feb 7 2018

YEREVAN, February 7. /ARKA/. Armenian Prime Minister Karen Karapetyan received today a delegation led by German Ambassador to Armenia Bernhard Matthias Kiesler, the government said. It said the delegation consisted of representatives of German Development Bank (KfW), MF Strategy, MicroInsurance Centre and AgroConsulting, and Re and Agroinsurance International (Switzerland) reinsurance organization.

Following the tender announced by the KfW Bank, a consortium consisting of the aforementioned 3 companies was selected to prepare a pilot agricultural insurance program in cooperation with the Ministry of Agriculture and the Central Bank of Armenia.

Thanking the German government for assistance with the initiative, Karen Karapetyan expressed readiness to expand cooperation in other related spheres as well. Presenting the reforms underway in this field, the Prime Minister noted that his government’s goal is to have an efficacious and smart farming sector, with insurance being one of its key components. The Premier said in order to reduce the risks, a pilot project for introduction of anti-hail missile systems is being implemented in Armenia.

According to the German Ambassador, the agricultural insurance program is innovative and promising, and the Government of the Federal Republic of Germany is ready to continue assisting the Armenian government in all areas of mutual interest. KfW representative Monica Guntner welcomed the Government’s commitment to implement sustainable long-term development projects in the agricultural sector, noting that the German Development Bank is keen to build close ties of cooperation with Armenia and implement prospective initiatives.

The interlocutors exchanged views on the relevant action plan and the agenda of the forthcoming discussions between the Armenian Ministry of Agriculture, the Central Bank, insurance market representatives and international experts.

KfW will provide a 5 million euro grant for the pilot project, which will be co-financed to the same extent from the State budget of the Republic of Armenia. The proceeds will be used to subsidize insurance payments. -0-

 

17:16 07.02.2018

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS