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Government and central bank to join efforts to help frost-affected
farmers, president
YEREVAN, April 4. / ARKA /. Armenian president Serzh Sargsyan said
today the Central Bank and the government will combine their efforts
to mitigate the aftereffects of severe damage caused to farmers by an
unprecedented cold that swept through Armenia on the last two days of
March as he had a working meeting with senior members of the
regulator.
The president said the banks should revise the repayment period and
ease the terms of loans provided to farmers in the affected
communities.
According to some estimates, the cold has killed early blossoms in
almost 90 percent of apricot orchards, the main export fruit of the
country.
The president recalled last year's moves of the banks which
re-registered loans provided in foreign currency to farmers as loans
in the national currency.
"Such moves are important for the future of the people so that they
feel more secure," he said.
He said the government will continue to subsidize part of interest
rates of agricultural loans. According to the president, if there are
other tools and means which could be used to ease the brunt of the
people, they should be employed.
According to Sargsyan , although the frost has caused heavy damage to
agriculture, it is a good chance for the banks to demonstrate that
they are deeply interested in economic development. -0-
- See more at: http://arka.am/en/news/economy/government_and_central_bank_to_join_efforts_to_hel p_frost_affected_farmers_president/#sthash.yaaMTbXA.dpuf
farmers, president
YEREVAN, April 4. / ARKA /. Armenian president Serzh Sargsyan said
today the Central Bank and the government will combine their efforts
to mitigate the aftereffects of severe damage caused to farmers by an
unprecedented cold that swept through Armenia on the last two days of
March as he had a working meeting with senior members of the
regulator.
The president said the banks should revise the repayment period and
ease the terms of loans provided to farmers in the affected
communities.
According to some estimates, the cold has killed early blossoms in
almost 90 percent of apricot orchards, the main export fruit of the
country.
The president recalled last year's moves of the banks which
re-registered loans provided in foreign currency to farmers as loans
in the national currency.
"Such moves are important for the future of the people so that they
feel more secure," he said.
He said the government will continue to subsidize part of interest
rates of agricultural loans. According to the president, if there are
other tools and means which could be used to ease the brunt of the
people, they should be employed.
According to Sargsyan , although the frost has caused heavy damage to
agriculture, it is a good chance for the banks to demonstrate that
they are deeply interested in economic development. -0-
- See more at: http://arka.am/en/news/economy/government_and_central_bank_to_join_efforts_to_hel p_frost_affected_farmers_president/#sthash.yaaMTbXA.dpuf