700 ARMENIAN FAMILIES RECEIVE LOANS FOR HOUSE HEATING
Noyan Tapan
Dec 12 2006
YEREVAN, DECEMBER 12, NOYAN TAPAN. 700 Armenian families received
loans for heating of private residential houses through the ACBA
Credit Agricole Bank.
Tamara Babayan, Director of the Renewable Energy and Energy Saving
Fund, told reporters on December 12 that the total cost of the
private residential house heating program is 4.2 million USD, which
was allocated to Armenian banks by the World Bank. In her words,
given the fact that the loan-giving bank does not use a pledge,
the annual interest rate of a loan makes 24% and it is repayble
over 3 years. The loans of 50 thousand drams (about 135 USD) to 1
million drams are provided, the maximum amount is 1.5 mln drams. It
was mentioned that ACBA Credit Agricole has submitted a bid for
1.2 mln USD, 900 thousand USD of which has already been provided to
citizens. T. Babayan noted that unless other banks become more active,
the remaining sum will also be provided as loans by this bank.
From: Emil Lazarian | Ararat NewsPress
