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"Please take me as hostage": Supporters of Daredevils of Sasoun have new slogan for today's protest

Armenia's NSS established identity of person who made false alarm on terror threat on July 27

Beeline continues registering participants of "Eurasia Mobile Challenge" local round

66 citizens were detained on July 27, 61 of them released

Anti-crisis group: Armenian authorities' violent actions provoke a wave of civil disobedience

Opposition demands to convey extraordinary session of parliament while most of MPs have gone on holiday to the best foreign resorts

"Daredevils of Sasoun" addresses Diaspora and world community asking condemnation for "unlawful" detention of Alek Yenigomshyan

HRH Yerevan condemns police activities against peaceful civilians, while public organizations demand extraordinary session of parliament

Sources in 102nd Russian military base in Armenia say contract officer disappears from base

Journalist Levon Barseghyan: "Freedom has its Price and I have always paid that Price!"

Oppositionist Alek Yenigomshyan detained on suspicion of supporting "Daredevils of Sasoun"

Health Ministry of Armenia says 14 citizens injured in recent developments in Yerevan still in hospital

Armenian Ombudsperson's Office representatives visit detained citizens

Azerbaijan targets positions in Talish village with grenade launchers

President of Journalists Club "Asbarez" Levon Barseghyan detained

Police of Armenia say almost of detained citizens set free

National Security Service of Armenia leaves open possibility of using force against "Daredevils of Sasoun"

Armenia's Police alarmed over bomb in Zvartnots International Airport

One of medical workers of Ambulance service released from seized building

One of leaders of Founding Parliament Alek Yenigomshyan detained

Arrest chosen as measure of restriction for Pavel Manukyan's son: Manukyan himself launched hunger strike

Leaders of "Founding Parliament" decide to hold protests on Liberty Square

Anti-Crisis group justifies its "mistakes" with intention to avoid bloodshed

Armenian police detaining all citizens passing by Khorenatsi Street near the seized building, foreign citizens among them

National Security Service of Armenia addresses members of Daredevils of Sasoun: The possibility still exists but the time is running out

Yenigomshyan believes in success of oppositionist movement

Representatives of Armenian Ombudsman's office visit Police department in Shengavit district and meet activist Levon Barseghyan

National Assembly of Armenia has not discussed demand to meet with delegation of parliamentarians laid down by "Daredevils of Sasoun"

US Embassy to Armenia calls for immediate release of medical personnel from seized building

"Daredevils of Sasoun" group presented details of last night's firefight: there was sabotage by Police

Yenigomshyan: Doctors are not hostages they are guarantee for satisfying conditions, laid down by Daredevils of Sasoun

Armenian Healthcare Ministry considers impossible fulfillment of armed group's demand on exchange of medical workers who were taken hostages

Yenigomshyan rings alarm: Levon Barseghyan missing since early morning

Economy Ministry of Armenia sees no reasons why Single European Sky is still close for Armenia

"Daredevils of Sasoun" provide details of overnight skirmish: Police resorted to sabotage

James Warlick: Yerevan and Baku agree to expand OSCE monitoring group in Karabakh conflict zone

Medical community of Armenia condemns "Daredevils of Sasoun" for taking 4 medical workers hostage

Police ban citizens from gathering in territory adjacent to seized Police Patrol Service Regiment building in Yerevan

Forecast: No prospects for NATO's expansion into South Caucasus

Armenian human rights defender verifying reports on mass detention of citizens

Armenian human rights defender verifying reports on mass detention of citizens

Two wounded members of armed group "Daredevils of Sasoun" sent to prison hospital

U.S. Embassy in Armenia once again issues a security message for U.S. citizens in Armenia urging them to avoid daily demonstrations

Azerbaijan's drones circling above Karabakh-Azerbaijani Line of Contact

Lives of wounded members of "Daredevils of Sasoun" Pavel Manukyan and his son in danger after past night's skirmish

Police reinforce its positions at Khoreatsi Street

Policemen's actions against Daredevils of Sasoun escalate situation even more

Armenian NSS warns that it has to take stricter actions for preventing new crimes by Daredevils of Sasoun

VTB Bank (Armenia) resumes service of transfers from card to card via Visa Direct system

Ombudsman presented his position and proposals related to events in Erebuni

Regional

Head of Agrarian-Peasant Union of Armenia blames banking system for ruining villagers

  • by Gayane Isahakyan

  • Friday, May 30, 22:30

 The banking system of Armenia has led the Armenian villagers to ruin, Head of the Agrarian-Peasant Union of Armenia Hrachya Berberyan said at a press conference in Yerevan. 

"By my calculations, over the period of independence, Armenia has received from international structures almost 50 mln USD loans for various agrarian purposes", said Berberyan. He has no idea of how and how effectively those funds have been used. "The loans were provided to the banks at a low interest rate. For instance, the World Bank provided the Government of Armenia with loans at LIBOR 0.5-0.75%, and the latter provided the loans to the banks at 7% p.a. The banks, in turn, lent the money to the villagers at 24%- 30% p.a.", he said. 

"As a result, the villagers owe big funds to the banks now. I think a special commission must immediately be set up to find out whether the banks properly used the credit facilities meant for agriculture or not", said Berberyan. He recalled that the Credit Yerevan Bank, for instance, borrowed money from the World Bank for development of the agrarian sector and God knows how it spent the money. Another example of Berberyan concerned the state program subsidizing the agriculture loan rates. "The Government provides preferential loans to the farm entities, but in Shirak region only 40 farmers have received loans. Today farmers badly need loans, but the banks fail to satisfy the villagers' needs and agree to lend them at high rates - no lower than 18-20%. Cheap loans are extremely limited today", he said. 

He also added that besides suffering of the credits, rural people have also suffered of frost and hail. "Incidentally, the losses of the agriculture facilities because of hail grow parallel to the growth of the anti-hail stations at the territory of the country. The agriculture sector needs immediate radical reforms.  First, not functionaries should create agriculture cooperatives but the farmers themselves. Secondly, state functionaries have to draw out the law "On producers of agriculture production". The next, it is necessary to fully upgrade the irrigation system. Moreover, the anti-hail services should become more responsible for the losses of the agriculture facilities because of hail.  We also need the net anti-hail system similar to the one functioning in the European countries. And finally, the rates of the banking agro credits should be decreased and the terms of their repayment increased up to  15 years", - Berberyan said.

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