AMD 95 bln in credits allocated to Armenia’s agriculture sector as of Sept 2011

PanARMENIAN.Net - As of September 2011, AMD 95 bln in credits were allocated to Armenia’s agriculture sector, according to the deputy president of the Central Bank of Armenia.

As Nerses Yeritsyan told a PanARMENIAN.Net reporter during Jermuk-hosted forum of Armenia’s rural communities, the sum above makes up 8% of the total investment credits.

Availability of credits to rural communities, mortgage lending and deposit-related issues were discussed at the event. “Interesting offers on long-term crediting were advanced, necessitating formation of long-term programs,” Yeritsyan noted.

“Promotion of financial literacy among farmers was also focused on, with commercial banks expressing readiness to assist rural communities in the matter,” Yeritsyan concluded.