YEREVAN, April 26. /ARKA/. Acba Leasing Company provides business entities in Armenia with an opportunity to modernize their capacities either for setting up new or expanding existing productions as part of the government-designed program "Measures to modernize the economy," the press service of Acba bank said today.

It said business entities can lease new (unused) equipment in the Armenian market or import it from abroad through the Acba Leasing.

Leasing under the program is available in AMD, USD and EUR currencies; prepayment amount starts from 10%; repayment term is up to 60 months (the subsidy period is up to 42 months).

The actual annual interest rate for transactions in AMD will be 1.45%:-5.55%, and for transactions in USD or EUR – 0% -2.54%.

The annual nominal interest rate in case of AMD is 10.9%-15%, of which 10% is subsidized; and in case of foreign currencies the interest rate is 8-10%, of which 8% is subsidized.

The maximum amount of leasing provided by Acba Leasing is one billion drams or the equivalent in foreign currency.

Business entities, which have invested 200 million and more drams in their charter capital from January 1, 2021 up to the moment of submitting applications for assistance, may take advantage of financial preference of up to 10 million drams through Acba Leasing according to the program's terms.

The program will be active untill December 31, 2023.

The program aims at stimulating the import of new technologies to Armenia which will contribute to the enhancement of competitiveness of the produced goods and services as well as the growth of productivity.

Acba Leasing is controlled by the Central Bank of Armenia. ($1 - 466.52 AMD) -0-