Armenia government to support agricultural insurance program

ArmInfo. The Armenian government, as part of  the agricultural insurance program, is ready to reimburse insurance payments for the 2025 agricultural year and offer agricultural entrepreneurs a subsidy  of up to 80% (inclusive) of the insurance premium specified in the insurance contract. The Ministry of Economy's  initiative was approved on March 13 during a meeting of the Cabinet of Ministers.

According to the draft for 2025, every insurance company that is a member of AINA will  be compensated for insurance payments to business entities that exceed 200% of the total amount of insurance premiums collected by them. Additionally, this year farmers will receive increased subsidies for insurance premiums, ranging from 70-80% (instead of the previous 50-60%).  In 2025, 13 crops will be insured: grapes, apricots, peaches, potatoes, plums, apples, cherries, watermelons, melons, wheat, barley, and oats. They will be insured against four risks - spring frosts, drought, hail and fire.

According to Papoyan, the measures taken over the past two years are temporary, and the government is determined to find systemic solutions.  It is noted that for the adoption of this project, the necessary financing for 2025 will be carried out using funds allocated from the state budget of the Republic of Armenia to the Ministry of Economy for the program's implementation.