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Loan "Gyumri Agro"

Loan "Gyumri Agro"

"Gyumri Agro" loan product is envisaged for the development of agriculture in the Shirak region of Armenia.

  • Borrowers of "Gyumri Agro" loan can be:
  • Individuals and legal entities, private entrepreneurs operating in the region, who wish to:
  • expand their business in agriculture,
  • establish new agricultural farms.
  • Individuals and legal entities, private proprietors having business in other regions of the Republic of Armenia, who would like to transfer their agribusiness to Shirak region by establishing their own branches.
  • Businessmen from Shirak region working abroad who intend to repatriate and start their agricultural business in Shirak region.
Annual interest rates and terms, per currencies Currency / Term  Up to 24 months   Up to 84 months
AMD  10.5% 11%
 USD  8%  8%
 Amount of loan provided to one borrower
  • Minimum amount: AMD 3,000,000 or equivalent in USD
  • Maximum amount: USD 150,000 or equivalent AMD
 Loan Application Review Fee:  0 AMD
 One-off fee for loan disbursement
 for loans with maturity period of up to 24 months - 0.5% of the loan amount and for loans with maturity period of more than 24 months - 1%
 Providing business consulting at the stage of crediting process and project implementation free of charge


Lending can not be used for the following purposes:

  • Debt settlement to third parties,
  • Manufacture, processing and trade of cigarettes and tobacco products,
  • Activity not related to agriculture or related fields,
  • Pesticides purchase and sale,
  • Production, processing and sale of distilled / strong / alcoholic drinks.

Other terms

  • The Borrower shall contribute own resources of at least 20% of the total Project cost. Furthermore contributions from own resources include financial, property investments and investments made in the form of labour.
  • Should the turnover assets form more than 20% share in the loan amount, the loan repayment period is set for up to 24 months, and in case of more than 20% - 84 loan repayment period is set.
  • A grace period may be established for principal repayment not exceeding 18 months.
  • The interest rate for the entire period of the loan is fixed.

Loans approved under the "GyumriAgro" lending will be provided within the framework of Loan Agreement LA-10-12 between the RA and Converse Bank CJSC of 07.12.2012.
In case of rejection of loan application or lack of funds within the framework of the project referred to in point 3, the loans will be provided on the following terms:
Annual interest rates and terms per currencies:

Currency / Term  Up to 24 months Up to 84 months
AMD For the first year - starting from 11%, after which CBFL+ 4.75%, but not less than 11% For the first year - starting from 11.5%, after which CBFL+ 5.25%, but not less than 11.5%
USD For the first year - starting from 8.5%, after which CBFL+ 6%, but not less than 8.5% For the first year - starting from 9%, after which CBFL+ 6%, but not less than 9%