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.
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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.