AGBA Leasing CJSC joins agricultural machinery leasing subsidization program

Deputy Minister of Agriculture Robert Makaryan, acting Director of Rural Finance facility of “Rural areas economic development project implementation unit” state agency Vahe Harutyunyan and AGBA Leasing CJSC CEO Arsen Bazikyan on May 4 signed a memorandum of cooperation over the implementation of “Financial leasing of agricultural machinery of the Republic of Armenia, leasing state assistance” program, the Agricultural Ministry told.

“Now we are holding talks with other companies as well so that the number of financial structures engaged in the project will increase. The market is open, and the more the suppliers and financial structures, the more affordable for our farmers, rural entities to acquire the machinery,” Deputy Minister Robert Makaryan said.

AGBA Leasing CEO Arsen Bazikyan said this memorandum will enable farmers to acquire agricultural machinery with unprecedented terms and will serve a base for expanding their businesses. “Starting from tomorrow farmers can apply to us, and we will try to respond to all applications quickly,” he said.

In his turn Vahe Harutyunyan informed that there is a great demand for agricultural techniques. Within the frames of the program, the economic entities can acquire various types of machinery.

The terms of acquiring agricultural machinery are the followings: 20% down payment, annual lease rate of 2%, 3-10 years maturity date, depending on the type of a technique