Development and Investments Corporation of Armenia

A leasing program for the agrifood sector starts in Armenia. In this regard, on July 26 a memorandum of cooperation was signed between the RA Ministry of Agriculture, the Bureau for Implementing Rural Development Programs of the RA Government Staff, the Armenian Development and Investment Corporation (DICA), the leasing company ACBA Leasing and the USO CARD AgroCredit.

Within the framework of the program, lessees have the opportunity to purchase agricultural equipment on leasing on the following conditions: advance payment – 20%, interest rate – 4% per annum, maturity – up to 8 years.

According to the Deputy Minister of Agriculture Robert Makaryan, the implementation of the project this year will provide an opportunity to make capital investments in the agro-food sector in the amount of 4.3 billion to 4.5 billion drams.

“The beneficiary will pay 20% advance payment. Also, leasing insurance will be provided at the expense of financial organizations”, said Hrach Darbinyan.

This project will increase the level of saturation in the agro-food sector with the latest technologies,

create conditions for further development of the sphere, increase competitiveness, and increase production and export volumes. In addition, the opportunity to import substitution products through local production.