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- Operations
- Farmer Market Access Program
Farmer Market Access Program
Armenia
Borrower | Armenia |
Financing Type | Public Sector |
Instrument | Project Loan |
Focus Area | Agriculture |
Approved | 16.12.2008 |
Signed | 23.12.2008 |
Status | Completed |
Loan Administrator | OPEC Fund |
Executing Agency | Ministry of Agriculture |
Co-financiers | IFAD, Government, Beneficiaries, Clients, Grant, Gov't of Denmark |
OPEC Fund Contribution (US$m) | 14.00 |
Total Project Cost (US$m) | 37.33 |
The majority of cultivable land in Armenia is owned by smallholders farming on plots of less than two ha. Inadequate infrastructure and a lack of financing opportunities hinder the economic potential of rural areas. In order to stimulate commercial activity and encourage people to diversify into other areas of work, the project will provide financial services for small and medium-scale rural enterprises and farmers. It will aims at enhancing private sector activities and commercial opportunities for sustained poverty reduction through investing in social infrastructure. This will include the construction/rehabilitation of water supply and sanitation facilities, community centers, and connecting rural communities with the natural gas network.