Banks Provided 80 Billion Drams in Loans with Government Support During the Pandemic

This year's phenomenon is that the main growth in lending has been recorded in two segments: agricultural and business loans. One of the main drivers of this growth is the implementation of the Government's anti-crisis programs, which are carried out in collaboration with banks. We have provided loans amounting to nearly 80 billion drams through government support programs,

said Central Bank Chairman Martin Galstyan during a press conference. According to Galstyan, during the coronavirus pandemic in Armenia, banks provided 80 billion drams in loans through government support programs.

Banks are also providing loans from their own resources. Moreover, the growth of consumer loans is experiencing a certain slowdown; business loans grew more slowly last year, but this year they are increasing at a faster rate,

stated Galstyan.