"Farm Credit Armenia" UCO will cooperate with the Ministry of Agriculture to ensure the implementation of agricultural loan interest subsidizing program.

According to the Agriculture Ministry's press release, the memorandum was signed today by Deputy Minister Robert Makaryan and Chief Executive Officer of Farm Credit Armenia UCO Armen Gabrielyan.

"Both ACBA Credit Agricole Bank," Card AgroCredit "UCO, and" Farm Credit Armenia "UCO have joined the project, which is very important for us, the availability and experience of high-quality financial institutions will result in greater funding for the agricultural sector. I think such programs will help us to move from social to industrial agriculture earlier, "said Robert Makaryan.

According to the Deputy Minister, the Certification Training Courses are being held in the provinces to use the program. At present there are about 5 thousand applicants, 1700 of them participated in the courses, and 1,300 applicants have already received a certificate.

Armen Gabrielyan expressed confidence that this program would enable farmers to improve their economies.

"I think this program will partially supplement the gap that there is today in our country's agricultural financing field," he said.

According to Armen Gabrielyan, their services will be available to all those who wish to participate in the program, except Gegharkunik, Lori and Shirak regions.

The Ministry reminded that within the framework of the project, the beneficiaries will be provided loans of 3-10 million drams, 5% a year. The interest rate for frontier communities and agricultural cooperatives receiving social support is 3%.

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