CARD AgroCredit UCO CJCS and RAED PIU have signed a new loan providing contract based on Combined Financial Product (CFP). Within the frames of the contract, with funding from the International Fund for Agricultural Development (IFAD), 3 types of agricultural activities will be financed and compensated (grants).
- The beneficiaries must submit a certificate of participation in the training implemented by the program
- The products that can be financed are; gardening (traditional), fruit drying and beekeeping
- The target communities are Ararat region (Shahumyan, Pokr Vedi, Surenavan, Nor Ughi communities), Vayots Dzor region (Arpi, Zaritap communities), Syunik region (Meghri, Agarak, Karchevan, Lehvaz, Shvanidzor, Alvank, Nrnadzor, Spandaryan, Darbas, Harzhis communities), 313 farmers
- Within the frames of the new project 2,5-20 million loans will be financed, from which up to 25% in the form of the combined financial product (grants)
- The financing may also be included in state subsidy of interest rate, within the frames of support programs by the government
- Nominal annual interest rate, up to 12%
- The loan term is 60-84 months, depending on the product to be financed
- The loan repayment period is up to 18 months.