The RA Minister of Agriculture Sergo Karapetyan received Hakob Andreasyan, the CEO of ACBA-CREDIT AGRICOLE BANK to discuss current issues related to the financing of agricultural farms.

 

During the meeting Hakob Andreasyan said that today the bank is ready to start giving subsidized loans for farmers to organize agricultural work for spring 2016.

 

“Since this spring agricultural activities are launched about a month early, the Government is taking action to make loans available to farmers earlier. The state program of subsidized loans, within the framework of which monetary loans are provided at 8 % interest rate, are actually an important support for the farmers. The creation of agricultural cooperatives is one of the main ways of developing agriculture in our country, and apart from providing subsidized loans for the promotion of their activities the implementation of loans with preferential terms has also a great role “,- Sergo Karapetyan said.

 

The CEO of the bank welcomed the suggestion and said that they are ready to provide loans at much lower interest rates to support the cooperative movement. He also added that they can also implement exchange experience projects for the Armenian cooperatives, send most experienced specialists to France or invite specialists to Armenia for the on-site consultations.

 

Hakob Andreasyan assured that the loans will be provided to agricultural farms in time with individual attention. 

 

In the near future the Ministry of Agriculture and ACBA-CREDIT AGRICOLE BANK will sign a Memorandum of Understanding on Cooperation.

 

 

Division of Information and Public Relations of

the RA Ministry of Agriculture

 

 

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