Some 78 billion drams of subsidized loans issued over the past four years
28.12.2015,
18:53
Some 90,000 Armenian farmers have been provided with 78 billion drams of subsidized loans over the past four years, agriculture minister Sergo Karapetyan said today.
YEREVAN, December 28, / ARKA /. Some 90,000 Armenian farmers have been provided with 78 billion drams of subsidized loans over the past four years, agriculture minister Sergo Karapetyan said today.
According to him, in 2015 alone some 15.2 billion drams of subsidized loans have been released.
Under a government decision adopted in 2011 farmers are eligible to loans with 14% interest rate of which 4% are subsidized by the government. In border villages the figure is 6%. Loans are provided in the national currency, the dram. The average loan size is 625,000 drams.
Loans are given with a 6 month grace period. First, farmers pay only interests and after paying them they are given another 6 months to pay the main loan. According to the Central Bank, as of late February 2015 agricultural lending stood at 135.8 billion drams, up 6 percent from the year earlier. ($ 1 - 482.55 drams). -0-
According to him, in 2015 alone some 15.2 billion drams of subsidized loans have been released.
Under a government decision adopted in 2011 farmers are eligible to loans with 14% interest rate of which 4% are subsidized by the government. In border villages the figure is 6%. Loans are provided in the national currency, the dram. The average loan size is 625,000 drams.
Loans are given with a 6 month grace period. First, farmers pay only interests and after paying them they are given another 6 months to pay the main loan. According to the Central Bank, as of late February 2015 agricultural lending stood at 135.8 billion drams, up 6 percent from the year earlier. ($ 1 - 482.55 drams). -0-
