YEREVAN, September 18. /ARKA/. More than 11 thousand hectares of agricultural lands in Armenia have already been insured against four types of losses due to adverse events, said Ira Panosyan, the head of Agricultural Programs Development Department at  the Ministry of Economy

The agricultural insurance was launched in 6 Armenian provinces in 2020 and had a number of limitations covering only two types of crops against two types of losses.

In 2023 the agricultural insurance has been extended across the country involving 13 types of crops against 4 types of losses.

For comparison, Ira Panosyan cited some statistics on concluded contracts and insured areas: thus in 2020 some  1,541 contracts were concluded covering 2,500 hectares of land, in 2021 the number of contracts grew to 4,278 contracts covering 5,832 hectares, in 2022 there were 5,091 contracts covering 6,444 hectares and  in 2023 the number of insurance contracts surged to 10,192 covering more than 11 thousand hectares of land.   

Panosyan noted also that according to operative data, AMD 1.8 billion have already been paid to farmers in  compensation claims this year. According to her, farmers from Armavir, Ararat, Aragatsotn, Shirak and Lori marzes (provinceas)  have received most of the compensation claims ($1 - 386.35 drams). -0-