YEREVAN. – Armenia's Agriculture Minister Sergo Karapetyan on Tuesday received a delegation of the European Investment Bank (EIB) headed by EIB Vice-President Wilhelm Molterer.

The Minister expressed confidence that the meeting will serve a basis for mutually beneficial cooperation.

“EIB is implementing efficient projects in different fields of Armenia's economy. Given that agriculture is one of the priority areas, I think the time has come to elaborate projects in this field,” he said.

Among the perspective projects he mentioned horticulture and finished food products, construction of cold storage farms, drip irrigation systems, reservoirs as well as providing loans available to farmers.

In turn, the EIB Vice-President said that the framework agreement of EIB and the Central Bank envisages funding of agriculture development programs and supporting the private sector. But it is necessary to develop a program for the entire production chain of agriculture. Such programs can be implemented, including in conjunction with other financial institutions, said Molterer.