RA Deputy Minister of Agriculture Robert Makaryan, Acting Director of the Rural Finance Facility Development Office of the RA Government Staff Vahe Harutyunyan and Deputy Executive Director of "SME Investments" UCO CJSC Hrach Darbinyan signed a trilateral memorandum. Under the signed document, the parties intend to cooperate to ensure the implementation of a pilot program for partial subsidizing interest rates for agro-processing agricultural raw materials (purchases).

"The company will provide a 3% interest rate loan for one year for the implementation of fruit and vegetable and grape supplies to companies operating in the processing sector. Since the program is pilot, each beneficiary will be able to receive up to 150 million drams this year, but the amount will be increased next year, "said Robert Makaryan.

Noting that already three banks have expressed readiness to join the program, the Deputy Minister added that other banks will join the program in the near future.

It is expected that the project will create prerequisites for increasing the level of credit demand in the sector, which will lead to short-term payments to farmers in exchange for the purchase of agricultural products and will reduce the risks of banks and credit organizations. Additionally, the level of attractiveness of the agricultural products processing industry will somewhat increase and the problem of selling agricultural products will be significantly reduced.

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