Provision of loans for implementation anti-hail nets in agriculture – DEVELOPMENT AND INVESTMENTS CORPORATION OF ARMENIA

Provision of loans within the Framework of The Program of subsidization of interest rates of loans for implementation of anti-hail nets in the agriculture of the Republic of Armenia.

SUM

In case of works done by the contractor

vineyards-3.6 million AMD, the maximum amount of loans provided to each Beneficiary is 36 million AMD.
intensive fruit garden- 5 million AMD, maximum amount of loans provided to each Beneficiary is 85 million AMD

In case of works done without contractor

vineyards ՝ 2.88 million AMD, the maximum amount of loans provided to each Beneficiary is 28.8 million AMD:
intensive fruit garden- 6․8 million AMD maximum amount of loans provided to each beneficiary is 68 million AMD

Interest rate: As a result of state subsidies

For border settlements and Agricultural Cooperatives / implementing at least 3 hectares of anti-hail net /

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. Minimum and maximum garden area limits set for each Beneficiary:

vineyards-5 to 10 hectares
intensive fruit garden- 5 to 10 hectares

Repayment period:

Loan term is up to 7 years

Credit currency:

AMD

Loan repayment procedure

The loan may be granted a grace period of 1 year. (During the grace period the client only pays interest of 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 Armenia 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.