ARMENIAN PRESIDENT PROMISED AFFORDABLE HOUSING OPPORTUNITY TO CIVIL SERVANTS

YEREVAN, August 29. /ARKA/. A civil servant housing condition
improvement program will be implemented in Armenia shortly, Armenia’s
president Serzh Sargsyan said at his meeting with management of the
country’s ministry of education and science.

“Affordable housing to young families” principle is used in the new
program, president said as quoted by the presidential press office.

“Affordable housing to young families” program has been implemented
in Armenia since January 2010 through a specially created “Housing
for the young” universal credit organization. Maximum size of loans
under the program is 16 million drams. Interest rate is 8-8.5% for
Yerevan residents.

“We are ready to provide housing at very good prices, lower than the
market price, through affordable loans”, the president said.

Sargsyan also said that the list of public servant social package
beneficiaries will be extended. Currently there are about 150 civil
and public servants in the fields of culture, education and social
security. Under the social package each civil servant gets an annual of
132,000 drams. The social package give an opportunity to use medical
insurance services, repay mortgages every month, pay for higher
education and spend their vacations in Armenia and Nagorno-Karabakh.

The president said there are a number of other projects aimed at
improving job and living conditions for civil and public servants,
but the funds should be used in a maximum effective way. There is
still a lot to

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From: Emil Lazarian | Ararat NewsPress