Yerevan/Mediamax/. Organization of the Petroleum Exporting Countries Fund for International Development (OFID OPEC) will allocate Armenia a USD 20mln credit for financing farm and infrastructure development program.

The credit agreement was signed following the results of Armenian Prime Minister Tigran Sargsian’s and OFID CEO Suleiman Jazir Al-Herbish’s meeting, which took place on June 8 in Vienna.

Beneficiaries of the credit program will mainly be the residents of village communities, in particular, small producers, dealing with cultivation of fruits and nuts.

Credit repayment will start in 5 years, the repayment term will make 15 years and the annual interest rate will make 3.5%.