Yerevan/Mediamax/. Within the framework of the pilot program, three banks of Armenia started to provide agricultural credits in AMD at preferential conditions since April 1.

Mediamax reports that, speaking at a briefing in the government today, Minister of Finance Vache Gabrielyan informed that those banks are: “ACBA-CREDIT AGRICOLE BANK”, “Ardshininvestbank” and “Converse Bank”.

The interest rate of credits makes 12-16%, 4% of which will be subsidized by the government of Armenia, allocating AMD 250mln for that purpose.

The program will also include 200 socially insecure communities with high level of poverty. In this component of the program, the volume of governmental subsidies will make 6%.

The volume of each credit will make AMD 2-3mln.