Some 4.7 billion drams have been released to support Armenia's agricultural sector
22.04.2020,
15:07
According to the Central Bank of Armenia, as of April 22, more than 13 thousand applications for a total of 27.6 billion drams were submitted by citizens who are eligible for the second anti-crisis program of the government, designed to support the agricultural sector of the country Deputy Minister of Economy Arman Khojoyan told a news conference today.
YEREVAN, April 22. /ARKA/. According to the Central Bank of Armenia, as of April 22, more than 13 thousand applications for a total of 27.6 billion drams were submitted by citizens who are eligible for the second anti-crisis program of the government, designed to support the agricultural sector of the country Deputy Minister of Economy Arman Khojoyan told a news conference today.
He said to date, 2,943 loan applications for a total amount of 4.34 billion drams have been approved, of which 2,632 are microloans to assist farmers, and 311 are loans granted for other agricultural purposes.
According to him, applications for loans to finance agricultural projects had been received also as part of the first anti-crisis program designed to assist private entrepreneurs.
He explained that 10 loan applications have been received as part of the first program to the tune of 694 million drams. 'Thus, over 20 days, a total of 4.7 billion drams have been allocated for lending to agriculture,” he said.
For comparison, the deputy minister noted that from January to March 31, 2020, a total of 1,638 agricultural loans had been granted for a total amount of 6.8 billion drams.
Khojoyan said that discussions are underway to expand the range of lending and agricultural support, to introduce new financial opportunities for increasing the efficiency and accessibility of programs for farmers and processing enterprises.
The government of Armenia, in general, approved 13 programs to counteract the economic consequences of coronavirus. Six are designed to help agriculture, tourism, SMEs, microbusiness and other industries, and seven are designed to help vulnerable citizens.
Armenia declared a 30-day state of emergency on March 16 to contain the spread of the disease and imposed stringent restrictions on free movement of people banning also some types of economic activity. On April 13, the government extended the state of emergency for another month, allowing simultaneously some businesses to reopen.
Armenia's confirmed coronavirus cases have reached 1,473 over the last 24 hours, 633 patients have recovered and 24 people died. ($1 - 480.87 dram) -0-
He said to date, 2,943 loan applications for a total amount of 4.34 billion drams have been approved, of which 2,632 are microloans to assist farmers, and 311 are loans granted for other agricultural purposes.
According to him, applications for loans to finance agricultural projects had been received also as part of the first anti-crisis program designed to assist private entrepreneurs.
He explained that 10 loan applications have been received as part of the first program to the tune of 694 million drams. 'Thus, over 20 days, a total of 4.7 billion drams have been allocated for lending to agriculture,” he said.
For comparison, the deputy minister noted that from January to March 31, 2020, a total of 1,638 agricultural loans had been granted for a total amount of 6.8 billion drams.
Khojoyan said that discussions are underway to expand the range of lending and agricultural support, to introduce new financial opportunities for increasing the efficiency and accessibility of programs for farmers and processing enterprises.
The government of Armenia, in general, approved 13 programs to counteract the economic consequences of coronavirus. Six are designed to help agriculture, tourism, SMEs, microbusiness and other industries, and seven are designed to help vulnerable citizens.
Armenia declared a 30-day state of emergency on March 16 to contain the spread of the disease and imposed stringent restrictions on free movement of people banning also some types of economic activity. On April 13, the government extended the state of emergency for another month, allowing simultaneously some businesses to reopen.
Armenia's confirmed coronavirus cases have reached 1,473 over the last 24 hours, 633 patients have recovered and 24 people died. ($1 - 480.87 dram) -0-
