Armenia will expand agricultural insurance program to embrace 10 more crops until 2024
17.02.2020,
16:39
The government of Armenia will expand the agricultural insurance program to embrace 10 more crops until 2024, Deputy Director of the National Agency for Agricultural Insurers Narek Hovakimyan told reporters on Monday.
YEREVAN, February 17. /ARKA/. The government of Armenia will expand the agricultural insurance program to embrace 10 more crops until 2024, Deputy Director of the National Agency for Agricultural Insurers Narek Hovakimyan told reporters on Monday.
He said under the existing agreements with the country's international partners, the program is to involve new agricultural cultures and insurance risks and cover the whole of Armenia.
"Today, together with KfW German Development Bank, we have formed a budget of 10 million euros (5 million euros each from each for subsidizing premiums and another 600 million euros are provided for by the government's budget for various subsidy programs," he said.
The agricultural insurance pilot program started on September 30, 2019 applying to grapes and apricot. Later in expanded to involve also peaches, apples and barley / wheat.
The agricultural insurance pilot program applies to grapes, apricot, peaches, apples and barley / wheat. Insurance against frost is available in Ararat and Armavir provinces, while insurance against hailstorms and fire - in Ararat, Armavir, Aragatsotn, Kotayk, Vayots Dzor and Tavush. -0-
He said under the existing agreements with the country's international partners, the program is to involve new agricultural cultures and insurance risks and cover the whole of Armenia.
"Today, together with KfW German Development Bank, we have formed a budget of 10 million euros (5 million euros each from each for subsidizing premiums and another 600 million euros are provided for by the government's budget for various subsidy programs," he said.
According to the Ministry of Economy, the average annual damage to agriculture caused by natural disasters is about 110 billion drams, but the level of compensation to affected farmers is very low.
The agricultural insurance pilot program applies to grapes, apricot, peaches, apples and barley / wheat. Insurance against frost is available in Ararat and Armavir provinces, while insurance against hailstorms and fire - in Ararat, Armavir, Aragatsotn, Kotayk, Vayots Dzor and Tavush. -0-
