YEREVAN, JULY 19, ARMENPRESS. The Cabinet today approved the state leasing support program which aims at delivering agricultural equipment to economic entities with affordable terms, in particular, by the use of finance lease mechanisms, reports Armenpress.

Minister of agriculture Artur Khachatryan said within the frames of the program it is expected to provide up to 230.0 million drams with 8 year term, up to 11 annual interest rate to rural people via a leasing. 7% will be subsidized. The minister added that the lessee pays 20% prepayment for the purchase price of the leasing product.

Edited and translated by Aneta Harutyunyan