ArmInfo.On March 26, the Armenian Cabinet of Ministers approved the support program for grape processing enterprises and the procedure for providing budget guarantees within its framework. The program aims to mitigate the financial risks of these enterprises associated with export problems and provide them with temporary access to financial resources to continue normal operations.
According to the explanatory note to the document, loans of up to 1,000.0 million (1 billion) drams are proposed to be provided to organizations that have purchased at least 10,000 tons of grapes in 2025. The loans would be available for 180 days from the day following the program's entry into force, and would be used for the payment of employee salaries or equivalent benefits, taxes, and mandatory payments to the state or community budget.
In the event of insufficient collateral for loans granted through the program, the government will provide a budget guarantee of up to 50% for a period of 180 days from the date when this decision takes effect. The procedure for providing loans and budget guarantees has been established. A limit of 10,000-ton was set based on the fact that major cognac exporters are primarily organizations that buy large amounts of grapes and have faced challenges due to the decline in export volumes.
