Armenia to introduce agriculture insurance system

15.08.2016 12:03
Armenia to introduce agriculture insurance system

YEREVAN, August 15. /ARKA/. Armenia will introduce an agriculture insurance system, Armen Harutyunyan, Armenian deputy agriculture minister, told journalists on Friday.
In his words, the methodology of the system introduction has already been discussed and developed with support from the Central Bank of Armenia.

“Now necessary financial assessment is being carried out and various instruments are being developed with taking into account international experience,” he said.

Harutyunyan said the first pilots will be introduced in Armenia in 2017, first of all, in fruit-growing and plant-growing segments of agriculture, and in late 2017 also in cattle-breeding segment.

“It is still difficult to say how effective it will work in Armenia, but it is aimed at introduction of the best experience in the country,” he said.

The deputy minister said that a system will be chosen that is able to cater for Armenia’s needs maximally.

Harutyunyan said that in some provinces necessary infrastructures will be created for resisting natural disasters.

The agriculture insurance system introduction has long been discussed in Armenia, but the idea has not been put into practice so far, and frost and hail continue damaging crops in the country. --0---

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