YEREVAN. – Armenia’s Euroterm Company will receive international loans to expand production.

The company signed a $2.5-million loan agreement with the International Finance Corporation (IFC) and a €2.05-million loan agreement with the Black Sea Trade and Development Bank (BSTDB).

The company plans to expand production and purchase more fruits and vegetables from Armenia’s farmers. Also, Euroterm will develop its own gardens, and it planted about 18,000 apple seedlings so far this year.               

Aside from the loan, IFC will also provide consultations to maintain the control system of the production security risks.

The loan is provided for seven years, and with terms that are more suitable than in the market.