Greenhouse Sector Development Support Program Will Not Be Halted: Papoyan

The proposal is to continue the greenhouse sector development support program instead of halting it, with a new condition of a 2% reduction in the subsidized interest rate. This was stated by the Minister of Economy of Armenia, Gevorg Papoyan, during the government meeting on October 2.

The minister reminded that in July 2023, the government approved a support program for the development of greenhouses, with a productivity target of establishing 35 hectares of modern technology greenhouses. Currently, there is already a request for 60 hectares, of which 15 hectares will be fully completed by the end of the year, while work on 45 hectares is in progress. Consequently, the target set by the government has not only been met but doubled.

“The new conditions of the program will come into effect on January 1, 2026. Under the program, the portion of the loan provided up to 3 billion drams will be subsidized at an interest rate of 8 percentage points, the portion of the loan from 3 to 9 billion drams will be at a rate of 7 percentage points, and the portion of the loan exceeding 9 billion drams up to 15 billion drams will have a rate of 6 percentage points. I remind you that the program also includes a 12-month grace period for the principal and interest of the loan, with the repayment term set at 8 years,” he said.