Armenian government to test pilot agriculture insurance project
31.08.2018,
14:51
Armenia’s ministry of agriculture will launch a pilot agricultural insurance project with a total budget of 10 million euros in March 2019, Agriculture Minister Artur Khachatryan said at a press conference on Friday.
YEREVAN, August 31. /ARKA/. Armenia’s ministry of agriculture will launch a pilot agricultural insurance project with a total budget of 10 million euros in March 2019, Agriculture Minister Artur Khachatryan said at a press conference on Friday. He said the pilot project is being now negotiated with the Central Bank.
"The total budget of the insurance project designed for several years is 10 million euros, which will be provided on a parity basis by the government and donors. The draft budget for 2019 earmarks a sum for that purpose," Khachatryan said.
The pilot project will be implemented in three provinces - Ararat, Armavir and Shirak embracing damages caused by hailstorms and frosts. The minister detailed that in Ararat and Armavir regions the insurance will involve damages caused to vineyards and fruit orchards, in Shirak region it is potatoes and grains.
"The pilot project will be launched in March 2019 and, if it is successful, it will be extended throughout the country," Khachatryan said.
The minister said also that by the end of 2018 the government will set up the National Agency for Risk Assessment and Management to correctly assess the risks. Damage caused to crops in Armenia amounted to 6 billion drams in 2018, down from 12 billion drams in 2016 and 33 billion drams in 2016. ($ 1 - 482.76 drams). --0--
"The total budget of the insurance project designed for several years is 10 million euros, which will be provided on a parity basis by the government and donors. The draft budget for 2019 earmarks a sum for that purpose," Khachatryan said.
The pilot project will be implemented in three provinces - Ararat, Armavir and Shirak embracing damages caused by hailstorms and frosts. The minister detailed that in Ararat and Armavir regions the insurance will involve damages caused to vineyards and fruit orchards, in Shirak region it is potatoes and grains.
"The pilot project will be launched in March 2019 and, if it is successful, it will be extended throughout the country," Khachatryan said.
The minister said also that by the end of 2018 the government will set up the National Agency for Risk Assessment and Management to correctly assess the risks. Damage caused to crops in Armenia amounted to 6 billion drams in 2018, down from 12 billion drams in 2016 and 33 billion drams in 2016. ($ 1 - 482.76 drams). --0--
