Converse Bank goes on issuing numerous agricultural loans, Tigran Davtyan, Executive Director, Converse Bank, told journalists March 14.

The bank issued agricultural loans in terms of AMD and USD at an annual interest rate of 11% to 12%.

The Argentina-based businessman Eduardo Eurnekian, one of the co-owners of the bank, launched vigorous activities in Armenia`s agricultural sector. Specifically, he sponsored the plantation of vineyard "Tierras de Armenia" in the Armavir region.

Armenian News-NEWS.am reminds readers that Armenian President Serzh Sargsyan instructed Chairman of the Central Bank of Armenia (CBA) Artur Javadyan to take measures to boost agricultural lending. Artur Stepanya, Head of the CBA Monetary Department, said that Armenian banks` agricultural loan portfolio is 54 billion AMD (about U.S. $145 million).