ProCredit Bank joins governmental program on agricultural loans subsidizing

PanARMENIAN.Net - ProCredit Bank has joined the new governmental program on agricultural loans subsidizing. Thus, the Bank highlights the importance and significance of agriculture in the whole process of the country’s economic development.

With participating in the program, the bank aims to finance those farmers, who operate in top-priority spheres of agriculture by providing more favorable lending conditions. The maximum loan amount under the program is AMD 3mln, with maximum annual interest rate making 14%, while 4-6% of it the farmers will get back from the government. The loans are granted with no disbursement fees and early repayment fines and with at least 6-month grace period.

General Manager of ProCredit Bank Armenia, Mr. Bertolt Hertzfeldt noted: “ProCredit Bank in Armenia has been engaged in agro lending since 2009. We believe that this subsidizing program will significantly contribute to the sustainable growth of entities engaged in agricultural production.”