Ameriabank assists in development of greenhouse enterprises in Armenia

PanARMENIAN.Net -

As a consulting partner, offering an extensive range of financial assistance, Ameriabank is financing a developing sector of industrial agriculture – greenhouse enterprises.

Founded in January 2014, Kaga Agro Ltd. was granted a loan of $4 million for construction of a Dutch technologies-based 2 ha-wide greenhouse facility.

Ameriabank management company study on the development of industrial agriculture suggests that the majority of greenhouses in Armenia are too small, their low productivity and efficiency preventing development of the sector in the country.

While greenhouses mostly use labor cost-cutting technologies, large greenhouses employ those aimed at production growth, thereby increasing productivity.

According to Ameria experts’ forecasts, in the years to come, development of the sector will be triggered by the technology-driven large greenhouses, with the prospects remaining unpromising for small ones.

Development of greenhouse enterprises in Armenia will boost domestic agricultural production volumes to meet the local demand and become competitive at international markets.