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NKR GOVERNMENT AFFIRMED THE MORTGAGE LOAN SUBSIDY PROGRAM
KarabakhOpen
28-02-2008 15:50:57
On February 26 the NKR government affirmed the mortgage loan subsidy
program. Prime Minister Ara Harutiunyan and the head of Artsakh
Investment Fund Karen Yesayan told about the details of the lending
program in a news conference after the meeting of government.
Prime Minister Ara Harutiunyan said there is sufficient funding for
the program. "We have already assigned 1.5 billion drams, in case of
necessity we will assign more," said the head of government. In answer
to the question whether only the government will fund the program,
Prime Minister Ara Harutiunyan said there will be both public funds
and other sources of funding.
The banks which participate in the government mortgage loan program
will provide a mortgage loan of 25 million drams to be repaid in
20 years with an interest rate of 12 percent. The government will
subsidize 6 percent. The government will also subsidize the first
installment on the condition of repayment.
According to Karen Yesayan, in Stepanakert the first installment will
be 20 percent, in the regional centers 30 percent. For apartments in
the new blocks of apartments in Stepanakert the first installment
will be 10 percent, in regional centers 20 percent. The government
will subsidize the first installment if the borrower is the heir of
a killed azatamartik or a disabled of war in Artsakh.
For the government mortgage loan program only the inhabitants of
Stepanakert and the regional centers are eligible. For rural areas,
according to the prime minister, another program of construction of
houses starts.
The prime minister said they will also focus on a program of
construction of blocks of apartments in the capital and the regional
centers for the mortgage loan subsidy program, and construction will
be boosted.
The government has also foreseen loans for redecoration of houses. The
sum of the loan is 3 million drams to be repaid in 5 years.
Karabakh-Open.com asked when applications will be received, Karen
Yesayan said they will announce about the start of the program.
KarabakhOpen
28-02-2008 15:50:57
On February 26 the NKR government affirmed the mortgage loan subsidy
program. Prime Minister Ara Harutiunyan and the head of Artsakh
Investment Fund Karen Yesayan told about the details of the lending
program in a news conference after the meeting of government.
Prime Minister Ara Harutiunyan said there is sufficient funding for
the program. "We have already assigned 1.5 billion drams, in case of
necessity we will assign more," said the head of government. In answer
to the question whether only the government will fund the program,
Prime Minister Ara Harutiunyan said there will be both public funds
and other sources of funding.
The banks which participate in the government mortgage loan program
will provide a mortgage loan of 25 million drams to be repaid in
20 years with an interest rate of 12 percent. The government will
subsidize 6 percent. The government will also subsidize the first
installment on the condition of repayment.
According to Karen Yesayan, in Stepanakert the first installment will
be 20 percent, in the regional centers 30 percent. For apartments in
the new blocks of apartments in Stepanakert the first installment
will be 10 percent, in regional centers 20 percent. The government
will subsidize the first installment if the borrower is the heir of
a killed azatamartik or a disabled of war in Artsakh.
For the government mortgage loan program only the inhabitants of
Stepanakert and the regional centers are eligible. For rural areas,
according to the prime minister, another program of construction of
houses starts.
The prime minister said they will also focus on a program of
construction of blocks of apartments in the capital and the regional
centers for the mortgage loan subsidy program, and construction will
be boosted.
The government has also foreseen loans for redecoration of houses. The
sum of the loan is 3 million drams to be repaid in 5 years.
Karabakh-Open.com asked when applications will be received, Karen
Yesayan said they will announce about the start of the program.