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ARMENIA TO GET $20 MILLION LOAN FROM OFID TO FINANCE RURAL CAPACITIES PROGRAM
/ ARKA /
June 9, 2011
YEREVAN
YEREVAN, June 9. / ARKA /. The OPEC Fund for International Development
(OFID) will provide a $20 million loan to Armenia to help it finance
a project designed to enhance farmers' capacities and create rural
infrastructures, the Armenian government press office told ARKA.
The agreement to this end was signed Wednesday by Armenian finance
minister Vache Gabrielian and OFID director general Suleiman Jazeer
Al Kherbis after the latter's meeting with Armenian prime minister
Tigran Sarkisian on the sidelines of a World Economic Forum in Vienna,
Austria.
The project's beneficiaries will be rural population, mainly
small-scale retail producers and companies engaged in production of
nuts and fruits, as well as insecure population of alpine areas. It
will be implemented by the International Fund for Agricultural
Development (IFAD). The loan, extended at 3.5% interest rate, is
repayable in 15 years and has a five year grace period.
According to finance minister Gabrielian, the overall purpose of this
loan is to reduce poverty in rural communities. The minister said
that it will help to quickly improve the quality of services in the
country and create agricultural opportunities.
The Armenian government delegation headed by Tigran Sarkisian is
visiting Vienna June 7-9 to attend a regional summit of the World
Economic Forum on Europe and Central Asia.
From: Baghdasarian
/ ARKA /
June 9, 2011
YEREVAN
YEREVAN, June 9. / ARKA /. The OPEC Fund for International Development
(OFID) will provide a $20 million loan to Armenia to help it finance
a project designed to enhance farmers' capacities and create rural
infrastructures, the Armenian government press office told ARKA.
The agreement to this end was signed Wednesday by Armenian finance
minister Vache Gabrielian and OFID director general Suleiman Jazeer
Al Kherbis after the latter's meeting with Armenian prime minister
Tigran Sarkisian on the sidelines of a World Economic Forum in Vienna,
Austria.
The project's beneficiaries will be rural population, mainly
small-scale retail producers and companies engaged in production of
nuts and fruits, as well as insecure population of alpine areas. It
will be implemented by the International Fund for Agricultural
Development (IFAD). The loan, extended at 3.5% interest rate, is
repayable in 15 years and has a five year grace period.
According to finance minister Gabrielian, the overall purpose of this
loan is to reduce poverty in rural communities. The minister said
that it will help to quickly improve the quality of services in the
country and create agricultural opportunities.
The Armenian government delegation headed by Tigran Sarkisian is
visiting Vienna June 7-9 to attend a regional summit of the World
Economic Forum on Europe and Central Asia.
From: Baghdasarian