26/08/2010 17:15
IFAD, Armenia sign rural areas development plan
International Fund for Agricultural Development (IFAD) and Armenia’s Ministry of Agriculture have preliminary signed Rural Areas Economic Development Programme, in line with which Armenia will receive a $13,48 million loan and a $500,000 grant for aid to rural areas of the country, a spokesperson to Armenian Ministry of Finance told media.
The programme was signed by Armenia’s Minister of Finance Tigran Davtian and Country programme manager Henning Pedersen.
The programme supports proposals for small-scale infrastructure related to commercial activities such as water points for livestock, small irrigation and road works, and to environmental activities regarding dairy and slaughterhouse enterprises. It will operate in mountain zones in the provinces of Aragatsotn, Gegharkunik, Lori, Shirak, Syunik, Tavusgh and Vayots Dzor.
In addition to restoration of infrastructures and construction works, the programme supports planting of fruit and nut gardens in several provinces of the country.
The loan has term of 20 years with 10-year period of grace. The programme’s start is scheduled for 2011, and the project will end in 2016.