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BANKS NOT FARMERS' ENEMIES - ARMENIAN CENTRAL BANK CHAIRMAN
16:15 ~U 10.06.13
Chairman of the Central Bank of Armenia (CBA) Artur Javadyan states
that the percentage of bad agricultural loans is much lower than it
is believed to be.
Specifically, agricultural microcredits within AMD 1m were offered
to about 60,000 households.
"The agricultural sector takes out more agricultural loans. Forty
thousand loans have been granted under the subsidy program alone,
with a total of 60,000 loans granted. Ninety-eight percent of loans are
repaid," Javadyan stated in Parliament in response to Martin Sargsyan,
an MP from the ruling Republican Party of Armenia (RPA).
The MP is concerned over the possibility of farmers' defaulting on
their debts.
The CBA has the information on harvest prospects in Armenia's regions.
"On the basis of this information we give loans," Javadyan said.
"Banks are not farmers' enemies. Agricultural microcredits are the
riskiest business, and many banks are unwilling to work in this
business without necessary knowledge," he said.
Armenian News - Tert.am
16:15 ~U 10.06.13
Chairman of the Central Bank of Armenia (CBA) Artur Javadyan states
that the percentage of bad agricultural loans is much lower than it
is believed to be.
Specifically, agricultural microcredits within AMD 1m were offered
to about 60,000 households.
"The agricultural sector takes out more agricultural loans. Forty
thousand loans have been granted under the subsidy program alone,
with a total of 60,000 loans granted. Ninety-eight percent of loans are
repaid," Javadyan stated in Parliament in response to Martin Sargsyan,
an MP from the ruling Republican Party of Armenia (RPA).
The MP is concerned over the possibility of farmers' defaulting on
their debts.
The CBA has the information on harvest prospects in Armenia's regions.
"On the basis of this information we give loans," Javadyan said.
"Banks are not farmers' enemies. Agricultural microcredits are the
riskiest business, and many banks are unwilling to work in this
business without necessary knowledge," he said.
Armenian News - Tert.am