Provision of loans for establishing intensive fruit, berry gardens and grapes cultivated by use of modern technologies in Republic of Armenia

Provision of loans for establishing intensive fruit, berry gardens and vineyards cultivated by use of modern technologies in Republic of Armenia within interest rate subsidy program.

Sum

In case of works done by the contractor:

·         vineyards ՝ 108 million Armenain drams (max. 10.8 million Armenain drams per hectare), with anti- hail net – 144 million Armenain drams (max. 14.4 million Armenain drams per hectare);

  • intensive fruit gardens՝ 187 million Armenain drams (max. 18.7 million Armenain drams per hectare), with anti- hail net ՝ 248 million Armenain drams (max 24,8 million Armenain drams per hectare),

·         berry gardens ՝ 69.6 million Armenain drams (max. 23.2 million Armenain drams per hectare),anti- hail net is  not intended

In case of works  done without contractor

·         vineyards ՝ 86 million Armenain drams (max. 8.6 million Armenain drams per hectare), with anti- hail net – 115.2 million Armenain drams max.( max. 11.5 million Armenain drams  per hectare);

  • intensive fruit gardens՝ 149 million Armenain drams (max. 14.9 million Armenain drams per hectare), with anti- hail net ՝ 198 million Armenain drams (max 19,8 million Armenain drams per hectare),

·         berry gardens ՝ 55.8 million Armenain drams (max. 18.6 million Armenain drams per hectare), anti- hail net is  not intended

Enterpreneurs, who had taken part in the other programs of interest rate subsidization envisaged in the state budget of the Republic of Armenia each year.

Interest rate: As a result of state subsidies

For border settlements and Agricultural Cooperatives / Founder of at least 3 hectares of garden / 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. The loan can be provided for the following purposes:

  • Establishing 0.5 to 10 hectares of vineyards
  • Establishing 0.5 to 10 hectares intensive fruit gardens
  • Establishing 0.5 to 3 hectares of berry gardens

Repayment period:

Loan term is up to 8 years

 

 Credit currency:

AMD

 

 

Loan repayment procedure

The loan may be granted a grace period of up to 8 years  (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.

 

 

Last update 23.02.2021 09:41