Amendments to ‘Available Apartments for Youth’ Program Directed to
Youth of Provinces
YEREVAN, NOVEMBER 11, ARMENPRESS: At today’s session, the Government
of the Republic of Armenia made a decision on making amendment to the
`Available Apartments for Youth’ program for the benefit of the youth
of the provinces.
The general backing for the youth of provinces is now 4% against the
previous 2%; the initial deposit is 10% against the previous 30%.
RA Prime Minister Tigran Sargsyan says the program corresponds to the
Government’s principle of symmetric territorial development.
‘Our citizens should take an advantage of this new opportunity. We
must exert efforts for that the loans are available in provinces and
communities. It is not a secret that mortgage loans are secured only
in Yerevan, because risks in the capital city are easier to manage for
trade banks. Due to this amendment we create more favorable
opportunities for people in communities to take an advantage of the
mortgage loans with extra conditions,’ the Prime Minister said.
At the press conference, held after the session, RA Finance Minister
Tigran Davtyan said the amendments are an essential aid by the state.
According to the calculations of the Ministry, mortgage interest rates
in the provinces will make 6.5-7%.
The Minister said the program is being implemented fully. Refinancing
of 1.1 billion AMD and loans for 137 people have already been secured.
’99 loans have been provided to young dwellers of Yerevan, and 38
loans – to inhabitant of the provinces. The index cannot satisfy us.
This decision is aimed at creating additional impetuses and more
favorable conditions for the provinces,’ the Minister said.
From: A. Papazian