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The program of peasant crediting will continue
15.06.2011 | 12:57 | www.nt.am | Noyan Tapan | Economy
(Noyan Tapan - 15.06.2011) During the last two months, RA government
undertook such called program of peasant crediting. It took the
currency risks of the banks and the compensation of 4-6 percentage
point of interest charges. As the president of RA Central Bank Arthur
Javadyan said during the press conference on June 14, during the last
two months loans of 7.5 billion drams (over 20 million dollars) were
given to 12000 peasant households. The average amount of one loan is
625000 drams, (over 1, 7000 dollars). The loans are privileged, one
begins to pay a percent six months later, by the way due to the
support of the government a peasant gets 10 (and in 15 percent poor
communities a peasant gets 8) percent loan. Main sum payment also
starts 6 months later. The deadline of the loans is up to two years.
A. Javadyan said that this program will continue, and the second phase
is envisaged to start at the end of August. Though it isn't envisaged
that these loans should be reformulated, but for every elemental
disaster softer loans will be given in order to pay the former one. It
was noted that the loans are given to agricultures also by other
programs. This year the sum of those programs reached 65 billion
drams, but last year during the same period it was for 47 billion
drams. Particularly, at the end of this year 20 million euro loan is
expected from the German bank KfW
From: A. Papazian
15.06.2011 | 12:57 | www.nt.am | Noyan Tapan | Economy
(Noyan Tapan - 15.06.2011) During the last two months, RA government
undertook such called program of peasant crediting. It took the
currency risks of the banks and the compensation of 4-6 percentage
point of interest charges. As the president of RA Central Bank Arthur
Javadyan said during the press conference on June 14, during the last
two months loans of 7.5 billion drams (over 20 million dollars) were
given to 12000 peasant households. The average amount of one loan is
625000 drams, (over 1, 7000 dollars). The loans are privileged, one
begins to pay a percent six months later, by the way due to the
support of the government a peasant gets 10 (and in 15 percent poor
communities a peasant gets 8) percent loan. Main sum payment also
starts 6 months later. The deadline of the loans is up to two years.
A. Javadyan said that this program will continue, and the second phase
is envisaged to start at the end of August. Though it isn't envisaged
that these loans should be reformulated, but for every elemental
disaster softer loans will be given in order to pay the former one. It
was noted that the loans are given to agricultures also by other
programs. This year the sum of those programs reached 65 billion
drams, but last year during the same period it was for 47 billion
drams. Particularly, at the end of this year 20 million euro loan is
expected from the German bank KfW
From: A. Papazian