Modern irrigation systems

Provision of loans within the Framework of The Program of subsidization of interest rates of loans for implementation of Modern irrigation systems

  The program is implemented using one of the following mechanisms: (by choice of the entrepreneur)

·         Subsidized loans on the basis of contracts with the contractor

.        Subsidized loans directly to the borrower 

 

Sum

  • In case of works done by contractor

 drip irrigation -maximum credit for investment per hectare is 2.2 million AMD regardless of crop
for rainwater system – maximum credit for investment per hectare is 2.7 million AMD regardless of crop

The total balance of loans granted to a single borrower may not exceed AMD 150.0 million:

  • In case of works done without contractor

drip irrigation -maximum credit for  investment per hectare is 2.2 million AMD regardless of crop
for rainwater system – maximum credit for investment per hectare is 2.7 million AMD regardless of crop

The total balance of loans granted to a single borrower may not exceed AMD 110.0 million:

 

Interest rate: As a result of state subsidies

 For border settlements
In case of investment in land with high normative of water consumption,For agricultural cooperatives (if invested in at least 3 hectares)
0%
For the rest of the communities in the Republic of Armenia Nominal interest rate 2%

Actual interest rate 2.02% under the following conditions

 

Provision of the loan

This loan is provided to individual entrepreneurs and legal entities engaged in agricultural activities.

Repayment period:

Loan term is up to 3 years

 

Credit currency:

AMD

 

Loan repayment procedure

The loan may be granted a grace period of up to 6 months  (During the grace period the client only pays interest on the loan).

 The subsidization of interest rate is stopped, if: 

there are overdue liabilities to the loan for more than 60 days cumulatively in one year period (last 12 months) or, because of overdue liabilities the loan  is not classified in standard class .

as a result of monitoring  there is a violation of the terms of the Program.

In case of improper use of the loan

 Money  paid to  Development and Investment Corporation of Armenian for lending

The corporation does not set any other fees for services.

Possible early repayment terms and conditions:

There are no fines or penalties for early repayment of the loan:

 

Other lending terms are common to all types of loans that you can find at the following link.

 

Last update 1.04.2020 13:03