The primary objective of the Project is to support the development of greenhouse facilities in the Republic of Armenia. This aims to increase greenhouse areas, production, and export volumes, thereby enhancing product competitiveness and raising the incomes of economic entities engaged in the agricultural sector.

The project will provide these entities with affordable borrowed resources backed by state support. Planned for implementation from 2023 to 2026, the project will encompass all the marzes (provinces) of the Republic of Armenia.

Terms and Conditions Offered Under the Project:

• Providing each Beneficiary with a loan for the construction of greenhouses, with funds amounting to a maximum of AMD 3.0 billion. This amount is intended for the construction of a greenhouse with an aggregate area of about 4 hectares, while there is no limitation set for the maximum area of such greenhouses under construction.
• The area of each integrated and complete greenhouse being built by each Beneficiary should be 1 hectare or more.
• The interest rate accrued on the loan will be subsidized/refunded by 10 percentage points.
• The maximum loan repayment period shall be 8 years.
• At the request of the Beneficiary, the appropriate financial entity may set a grace period for the basic amount and interest rate of the loan, with a maximum of 12 months.
• Upon mutual agreement between the Beneficiary and the financial entity, the latter may set a non-current pause period for the repayment of the basic amount and the interest rate accrued on the loan for up to 3 months per each year.
• The maximum term set out for greenhouse construction is 1.5 years.

Project Participation Procedure:

1.      To initiate the loan process, the Beneficiary must apply to the financial entities participating in the Project (refer to the LIST).

2.      If the Beneficiary meets the creditworthiness and solvency requirements established by the respective financial entity, the following documents must be submitted to secure the funds:

• A copy of the personal Identification Document.
• A copy of the certificate of state registration of real estate ownership or the permit right for the land plot development. This should specify the intended purpose of the land plot as industrial, subsurface use, and units of other industrial purposes, with the functional intended use as agricultural processing facilities. In the case of transferring the land plot on the right of development, submit the corresponding Agreement for the permit right of the land plot development. The lawful term of the permit right for the land plot development should be at least 10 years from the date of the Loan Agreement becoming effective. If there are co-owners of the real estate, include the notarized consent of the owner (co-owners) for the construction of a greenhouse.
• The greenhouse facility design, in compliance with the Project requirements.
• A Letter of Guarantee from the responsible entity or person who developed the design, confirming compliance with the project requirements.
• The Agreement on the release of the Beneficiary's information within the framework of the Project to the Ministry or any other state authority.

To get advice and assistance on the Project, please contact the Department for Agricultural Advice and Innovation via phones: +374 11 523 411, +374 11 597 254, +374 11 297 428, +374 11 529 231, the Department of Agricultural Development Programs via phone: +374 11 530 333; the Department of Horticulture and Crop Breeding via phone: +374 11 597 120.