YEREVAN. – Armenian banks are not capable of writing off all loans of the farmers affected by frost in late March, CBA chairman Arthur Javadyan said,

In response to Prosperous Armenia MP's remark that farmers need banks' support, Javadyan said the investors and shareholders of banks may suffer.

“We can not force banks to risk by the funds of investors and shareholders. And it will happen, if they start paying for non-performing loans,” Javadyan said in the parliament on Monday.

He recalled that the government had introduced agricultiral subsidies, and the program has involved 27, 000 farms, including those affected by frost. 

Photo by Arsen Sargsyan/NEWS.am