YEREVAN. – The parliament of Armenia approved a credit program between Armenia and the International Development Agency to promote recovery of republic’s gardening.

Speaking in the parliament on Friday Armenia’s Deputy Finance Minister Vardan Aramyan said the program provides for granting Armenia a preferential long-term loan totaling $15 million for  development of horticulture and other related industries. According to him, the program will promote exports of Armenian fruits and other goods made from fruits.

Armfruit CJSC will be created within the program. According to Aramyan, the program should be considered in the context of agricultural development strategy in Armenia, which is impossible without credits.

However, these arguments did not convince MPs from oppositional ARF Dashnaktsutyun party Artsvik Minasyan and Ara Nranyan.

“I am suspicious about new initiatives undertaken by our government,” said Nranyan.

He recalled the initiative undertaken by the government several months ago to set up Armenian Cheese CJSC in order to increase the export of Armenian cheese. As a result, cheese prices increased dramatically for Armenian consumers.

“I’m afraid this program will face similar problems,” Nranyan added.