YEREVAN. – In 2017, the Ministry of Agriculture of Armenia, together with the German government-owned KfW Development Bank, will prepare a basis for agrarian insurance in the country, Deputy Minister of Agriculture, Armen Harutyunyan, said at a press conference on Friday.

He informed that the ministry has worked with the KfW bank for two years, and prepared a document outlining the directions for future work.

New Year in new apartment with mortgage loans from 6% «Mortgage loans starting from 6% annual rate are granted till December 30 within “Affordable Housing for Young Families” program

Accordingly, an agrarian insurance pilot program will be developed in the coming year, and the KfW bank will allocate a €1 million grant for its preparation. 

“We want to make sure that the insurance be accessible for farmers, and profitable for the insurer,” added Harutyunyan. “There is some amount [of money] between these two points, and which we ourselves want to pay.” 

The deputy minister added that they will insure these five risk groups: hail, frost, drought, flood, and storm.