Yerevan/Mediamax/. ProCredit Bank joined the new Armenian governmental agricultural loan subsidizing program.

Loan conditions are as follows: maximum amount of the loan is AMD 3 mln. with maximum annual interest rate up to 14%, 4-6% out of which the farmers will get back from the Government. The loans are granted with no disbursement fees and early repayment fines and with at least 6 months grace period. The term of the loan may extend up to 2 years with a preferential repayment schedule starting from the 6th month.

The Bank is providing agro loans through its branches located in Artashat, Gyumri, Vanadzor, as well as Nor Nork and Malatia branches located in Yerevan.

Bertolt Hertzfeldt, Executive Director, noted: “ProCredit Bank in Armenia is engaged in agro lending since 2009. We believe that this subsidizing program will significantly contribute to the sustainable growth of entities engaged in agricultural producing”.