Armenia to Receive $11 Million Loan and $350,000 Grant from the US for Agriculture

The government has approved a proposal to sign an amendment to the financing agreement of the Agricultural Infrastructure and Rural Financing Support Program, signed on November 12, 2014, in Rome between Armenia and the International Fund for Agricultural Development (IFAD).

Under this agreement, the loan amount is set at $11 million, while the grant will be $350,000. The purpose of the Agricultural Infrastructure and Rural Financing Support Program is to improve the socio-economic conditions of the population in selected impoverished rural areas by providing stable employment opportunities and increasing incomes.

The program consists of four components: rural financing, water infrastructure in rural areas, farmer awareness and support, and sustainable land management aimed at productivity growth.