PROGRESS IN MORTGAGE LOAN PROGRAM
KarabakhOpen
27-06-2008 18:03:04
Recently a plot of land in Askeran has been allotted to Artsakh
Investment Fund for the construction of two apartment buildings for
the mortgage loan program. At the same time, President Bako Sahakyan
said dissatisfied with the implementation of the mortgage loan program.
The director general of Artsakh Investment Fund Karen Yesayan stated
that the program has been launched recently, and we need not expect a
miracle. He says the results of the program will become visible later,
when the apartment buildings are ready.
Kamo Nersisyan, director of the board of Artsakh Bank, which
participates in the program, says the total sum of mortgage
loans issued so far is 522 million drams. He said there were more
applications for a total of 100 million drams, and by the end of the
year they expect to issue loans of 600 million drams. The total package
of mortgage loan of Artsakh Bank will be 4 million U.S. dollars.
The manager of the Stepanakert branch of Armbusinessbank Samvel
Avanesyan said there is no limitation of the volume of mortgage
loans. "We already have applications, 15 are now under consideration,"
Samvel Avanesyan said.
The Stepanakert branch of Ardshininvestbank has issued loans of 200
million drams for renovation of apartments. The bank is a participant
of the mortgage loan program. It has allocated mortgage loans of 300
million drams.
By the end of the year it is foreseen to shape a credit portfolio of
2 million drams, said Arsen Mikayelyan, the head of the territorial
management of Ardshininvestbank in NKR.
From: Emil Lazarian | Ararat NewsPress
