Program promoting machinery leasing in agriculture to be launched in Armenia

Program promoting machinery leasing in agriculture to be launched in Armenia

YEREVAN, March 17. /ARKA/. At its regular session on Thursday, Armenia’s government gave its approval to a program supporting the agriculture machinery leasing. 

Ignati Araqelyan, agriculture minister, said the cost of the program for 2017 is AMD 2.2 billion. 

The project implies the provision of loans for purchasing agriculture machinery at a 2% annual interest rate. 

“The program will allow private farmers to buy agriculture machinery at preferential rates,” he said. “In particular, leasing will be provided at 9% annual interest rate, of which 7% will be subsidized by the government from the financial resources saved under the program providing fertilizers.”

If the program implementation is successful, the financing is expected to be increased. 

Karen Karapetyan, Armenian prime minister, stressing the importance of this program, said that it will allow farmers to acquire agriculture machinery on beneficial conditions. 

“We should understand that until we don’t introduce technologies in agriculture sector, we will have no results from this segment,” he said. --0---

14:43 17.03.2017





 

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