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YEREVAN, SEPTEMBER 12, ARMENPRESS. The Government of Armenia will subsidize loans for farmers in the third quarter of 2017 at an extent that farmers at bordering communities will receive loans at 3% interest rate, while the rest at 5%, ARMENPRESS reports the issue will be discussed during September 14 meeting of the Cabinet.
The program will last from the third quarter of 2017 until 2021. The maximal interest rate of the loans will be 14%. Until now the Government subsidized only 6% of the interest rates of the loans provided to farmers. The available amount of the loan is 3-10 million AMD.
127.5 thousands loans in number have been provided during the period of April 2011 to June 30, 2017 amounting to 106.4 billion AMD. The Government has subsidized nearly 5.1 billion AMD.