ProCredit Bank joins governmental program on agricultural loans subsidizingApril 29, 2011 - 15:36 AMT 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.” 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 | Politico: Belarus delivered advanced weapons to Azerbaijan in 2018-2022 Belarus delivered advanced weapons to Armenia’s enemy even though both countries were supposedly allies in a defense pact. Armenia Security Council chief to attend Ukraine peace summit Secretary of the Security Council of Armenia Armen Grigoryan will take part in the Ukraine peace summit in Switzerland. Deputy U.S. Secretary of State to arrive in Yerevan Deputy Secretary of State for Management and Resources Richard R. Verma will travel to Yerevan, Armenia from June 17-19 to. Armenia recalls Belarus envoy for consultations Armenian Ambassador to Belarus has been called to Yerevan for consultations, a spokesperson for the Foreign Ministry reveals. |