Armenian farmers to receive beneficial credits

Armenian farmers will receive state loans at a rate of 10% annually, Armenian Prime Minister Tigran Sargsyan said in an interview with a set of capital and regional TV channels, Arka.am reports.

The prime minister said that the average current loan rate for farmers is 24%.

He reminded the media that the government carried out a program in the Ashotsk and Amasia districts to provide state subsidies for loans.

Approximately 2,000 farms received loans at a rate of 10% annually.

Sargsyan said that the government had developed a program with the Central Bank to provide commercial banks with enough finances to keep the necessary loan rates. The rates are expected to be 14%, 4% of which will be paid by the government. The poorest farms will be the first to receive such loans.