Yerevan/Mediamax/. International Fund for Agricultural Development (IFAD) will provide Armenia a credit at the sum of USD 13.5mln for realization of a program of fertility enhancement.

Mediamax reports that Minister of Agriculture Sergo Karapetyan said this at a briefing in the Armenian government today.

According to him, the program will be realized in Vayots Dzor and Tavush marzes, as well as in one of the regions of Aragatsotn marz. Fertile gardens, in particular, nut trees and drupes trees will be planed on a territory of 700 hectares. The total cost of the program for 2011-2015 will make USD 52mln.

The Minister stated that the entire process of the program realization, starting from import of seedlings and up to collection of the yield, will be regulated by “Armenian Fruits” OJSC.

“The activity of the Company will be mainly export-oriented”, Sergo Karapetyan stated.

The only shareholder of the company will be the Armenian government, which will invest USD 11mln in its establishment. It is planned that further on the shares of the company will be purchased from the government by private investors.

The draft of the program will be submitted to the parliament in the nearest future for approval. The first seedlings will be imported this fall.