Armenia to extend grace period for loan repayments for intensive gardens – Minister
25.06.2026,
14:55
Armenia plans to extend the grace period for principal loan repayments for beneficiaries of the state support program for the development of intensive gardening by one year, announced RA Minister of Economy Gevorg Papoyan.
YEREVAN, June 25. /ARKA/. Armenia plans to extend the grace period for principal loan repayments for beneficiaries of the state support program for the development of intensive gardening by one year, announced RA Minister of Economy Gevorg Papoyan.
"The development and adoption of the project are due to the restrictions faced by Armenian producers and exporters of fruit and vegetable products, particularly when entering the Russian market," Papoyan said at a government meeting, presenting amendments to the intensive gardening development program.
Papoyan stated that the grace period will apply to beneficiaries who established gardens under the program and whose grace period for principal loan repayment expires or will expire before July 31, 2027. Based on monitoring by the Ministry of Economy, financial institutions will be able to extend the loan repayment period by one year, with an additional grace period for the principal.
To receive the benefit, the beneficiary must apply to a financial institution by September 1, 2026, providing a certificate from the Ministry of Economy based on the results of monitoring the establishment of the garden, as well as a certificate from the State Revenue Committee of Armenia on agricultural products sold in 2026, the minister noted.
"The development and adoption of the project are due to the restrictions faced by Armenian producers and exporters of fruit and vegetable products, particularly when entering the Russian market," Papoyan said at a government meeting, presenting amendments to the intensive gardening development program.
Papoyan stated that the grace period will apply to beneficiaries who established gardens under the program and whose grace period for principal loan repayment expires or will expire before July 31, 2027. Based on monitoring by the Ministry of Economy, financial institutions will be able to extend the loan repayment period by one year, with an additional grace period for the principal.
To receive the benefit, the beneficiary must apply to a financial institution by September 1, 2026, providing a certificate from the Ministry of Economy based on the results of monitoring the establishment of the garden, as well as a certificate from the State Revenue Committee of Armenia on agricultural products sold in 2026, the minister noted.
