Development and Investments Corporation of Armenia

Deputy Minister of Agriculture Ashot Harutyunyan, Deputy Executive director of Development and Investments Corporation of Armenia Hrach Darbinyan, Corporate Director of Ardshinbank CJSC Arthur Gyulazyan, Deputy Chairman of Armbusinessbank CJSC Nshan Grigoryan and Vahe Harutyunyan, Acting Director of Rural Areas Economic Development Programs Office of RA Government Staff signed a Memorandum of cooperation on creating Intensive orchards, hail protection networks and drip irrigation systems in order to ensure the implementation of loan rates subsidy programs.

Loans will be provided to individuals and legal entities, including cooperatives and sole proprietors.
For the implementation of anti-hail protection networks and drip irrigation systems, the beneficiaries can receive loans at 2%, and for creating intensive orchards – at 5% interest rate per annum.