Time in Yerevan: 11:07:36,   24 January

Armenian PM, international experts discuss introduction of agricultural insurance

YEREVAN, FEBRUARY 7, ARMENPRESS. Armenian Prime Minister Karen Karapetyan held a meeting on February 7 with the delegation led by Germany’s Ambassador Matthias Kiesler.

The delegation included representatives from the KfW – the German Development Bank, MF Strategy, MicroInsurance Centre and AgroConsulting consultants, Swiss Re and Agroinsurance International.

A consortium comprised of the three abovementioned organizations has been selected as result of a tender announced by KfW, with which the agriculture ministry of Armenia and the Central Bank will jointly prepare pilot programs of agricultural insurance.

The Armenian PM thanked the German government for supporting the introduction of an insurance system in the agriculture field and expressed willingness to expand partnership in other branches also.

The Ambassador said the insurance program is innovative, promising, and the German government is ready to continue supporting the Armenian government to develop cooperation.

As part of the pilot program, the KfW will provide 5 million Euros in grant and another 5 million will be co-financed from the state budget for subsidization.


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