Mher Grigoryan Has Obscured the Issue of High-Interest Loans Given to Farmers

The leader of the ARF "Prosperous Armenia" faction, Gagik Tsarukyan, believes that Deputy Prime Minister Mher Grigoryan has obscured the issue regarding high-interest loans that banks provide to farmers. He made this statement during a conversation with journalists at the National Assembly, responding to a question directed to the government by a member of his faction yesterday.

"Our deputy mentioned that funds at 0 and 0.25 percent have been allocated, amounting to 400 and 200 million for the development of agriculture and the growth of small and medium enterprises. If the Central Bank has intervened, it has the right to add one percent; let that bank to which they will provide the funds add another percentage. This makes it 2 percent; they can allocate it at 2 percent for agricultural development. These funds have been sent, so Mr. Grigoryan should clarify when they arrived and the manner in which they were delivered. However, farmers report that they received this money at interest rates of 20-35 percent," Tsarukyan said.

The leader of the Prosperous Armenia faction proposed holding hearings to understand the accuracy of the farmers’ claims. According to Tsarukyan, farmers’ assets are in banks, mortgaged: "If that is the case, measures must be taken to return those mortgages and hand them back to the farmers. If a farmer has paid five times more already and is still under debt, neither his house nor his land belongs to him. Yes, they have made exorbitant profits at the expense of the people, and everyone must be held accountable. I say this so that Mher Grigoryan listens, presents us with his views on this issue, and discusses what needs to be done."