ArmInfo. Armenian businesses engaged in greenhouse agricultural production will now have the option to switch the financial institution that issued their loans. The decision was approved during a cabinet meeting of the Armenian government.
According to the explanatory note of the draft decision, 20 contracts have been concluded under the greenhouse development support program to establish greenhouse farms covering a total area of 91.45 hectares, including one contract signed in 2026 for a 5.116-hectare facility. To date, 12 greenhouses spanning a total area of 55.12 hectares have been completed, while a 36.33-hectare facility is currently under construction.
During the implementation of the program, some financial institutions began offering loans at lower interest rates, prompting beneficiaries to seek transfers to more favorable lenders. Because the existing program guidelines did not include such a procedure, introducing the option to transfer loan claims became necessary. The previous inability to transfer rights regarding subsidized loans limited competition in the financial market and restricted the financial flexibility of economic operators.
Furthermore, regional developments—including the situation surrounding Iran, freight disruptions through the Strait of Hormuz, and broader supply chain bottlenecks—have caused delays in the delivery of equipment and materials for beneficiaries. This has significantly impacted adherence to construction timelines established under the program, making the ability to switch financial institutions all the more urgent.
