Prime Minister Nikol Pashinyan held a consultative meeting to discuss ways of promoting strategic development of agriculture.

The Central Bank experts presented a draft project of an investment fund to be established in the field of agriculture, including the goals and the steps for introducing development mechanisms. Developed on the basis of best international experience, the project implies setting up an agricultural machinery park following the public-private sector partnership principle.

A number of proposals and recommendations were voiced during the exchange of views that followed. Reference was made to the process of granting agricultural loans. The Central Bank representatives reported that the amount of loans was 20.3% up as of March this year against the same period in 2019, with a 4.6% increase recorded in April as compared to the beginning of 2020.

Prime Minister Pashinyan instructed to submit a roadmap for the formation of the fund along with a detailed description of its goals and expectations. “The government strives to make agriculture profitable and export-oriented,” he said, highlighting the need for continued discussions with successful farmers.