EBRD TO IMPLEMENT MORTGAGE CREDITING PROGRAM WITH ARMENIAN BANK

Noyan Tapan
Mar 30 2006

YEREVAN, MARCH 30, NOYAN TAPAN. By late 2006, the European Bank for
Reconstruction and Development (EBRD) will allocate funds to one of
the Armenian commercial banks to carry out mortgage crediting. NT was
informed at the EBRD that negotiations on the program’s implementation
are underway with this bank.

It is envisaged that the annual interest rates of the mortgage loans
to be provided from these resources will make about 12-13%.