Followed by the contract signed with “Rural Areas Economic Development Programme Implementation Unit” of Staff of the Government of the Republic of Armenia State Agency Rural Finance Facility, CARD AgroCredit UCO CJSC implements “Agricultural Equipment Finance Lease Support” Program, in the frame of which 7% of the 9% annual interest rate is paid by the State as a subsidy. The lessee covers only 2% of the monthly payment.
On May 20 the Executive Director of “CARD AgroCredit” UCO CJSC Mr. Karen Petrosyan and the Deputy Minister of Agriculture Mr. Robert Makaryan signed a Memorandum of Cooperation for ensuring the implementation of the “Agricultural Equipment Finance Lease Support” Program.
“With the launch of this program, we will boost the modernization and the import of agricultural equipment. Currently there is a huge demand in the local market, mainly connected with modern tractors and combines”, Mr. Petrosyan mentioned.
“This program will enable us to cooperate with “CARD AgroCredit” UCO and provide the farmers and community cooperatives with high quality equipment and favorable conditions,- said the Deputy Minister of Agriculture Mr. Makaryan.
Within the frame of the program lessees can obtain various agricultural machinery through CARD AgroCredit UCO: tractors, grain harvesting combines, seed drills, ploughs, tractor mowers, tillers and so on. The outstanding sum deposit of all the leasing contracts provided to a single lessee should not exceed 200 million AMD.
On May 06 within the frame of the program the first John Deere JD 6110B 110 AT Premium tractor was leased in Getashen community, Armavir marz.