Current portfolio of agricultural loans of ProCredit Bank makes $2.5mln

Current portfolio of agricultural loans of ProCredit Bank makes $2.5mln

PanARMENIAN.Net - Executive Director of ProCredit Bank CJSC Bertold Hertzfeldt said that the current portfolio of the bank under the pilot program on agriculture crediting makes $2.5mln.

The agricultural field is among priorities of the bank, Hertzfeldt told a press conference in Yerevan on September 27. The program is implemented in Aragatsotn region and territories adjacent to Yerevan. Vanadzor and Gyumri are foreseen to be included in the program as well.

“We allocate agricultural loans at reasonable interest rates – 9.5% for USD loans and 14.5% for AMD loans,” he said.

For his part, Chairman of the Supervisory Board of ProCredit Bank CJSC Christoph Freytag said that this field is rather risky in Armenia, as loans are allocated for a long term and in national currency. Nevertheless, the bank intends to provide its clients with a transparent product.

 Top stories
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
---