KfW CONDUCTS STUDY OF MORTGAGE MARKET OF ARMENIA

YEREVAN, August 23 (Noyan Tapan). The prospects of assistance of KfW
to implementation of the mortgage crediting program in Armenia were
discussed at the August 23 meeting of Aram Haroutiunian, RA Minister
of Urban Construction, and Raymond Strike, the Head of the advisers’
group of the KfW German bank. A.Haroutiunian mentioned that for the
purpose of regulation of the corresponding legislative field the
experience of European countries in this sphere is being studied at
present. According to the Minister, KfW may render assistance to both
families with average incomes for the purpose of buying an apartment
and to condominiums for the purpose of solving the problems of
buildings’ repair up to the problems of local heating.

The Press Service of RA Ministry of Urban Construction informed Noyan
Tapan that at present KfW conducts study of the mortgage market of
Armenia and the issues that were discussed will be submitted to the
leadership of the bank.