NKR GOVERNMENT ALLOCATED 700MLN AMD FOR THE REALIZATION OF A MORTGAGE CREDITING PROGRAM

Mediamax Agency, Armenia
March 19 2007

Yerevan, March 19 /Mediamax/. 700mln AMD is allocated from the state
budget of the Nagorno-Karabakh Republic (NKR) for the realization of
a mortgage crediting program.

Mediamax reports that the NKR Prime Minister Anushavan Danielian said
this, answering the questions of the visitors of the "Azat Artsakh"
newspaper’s website. He noted that the possibility to improve the
housing conditions will be given not only to young families, but also
the citizens, which will be chosen by the expert commission.

"The Nagorno-Karabakh Republic is the only country in the region,
which, at the expense of the state budget, took up the realization
of a mortgage crediting program on preferential terms – by a 6%
annual interest rate and up to 20 years time to run", Anushavan
Danielian stated.

The NKR government is also working out a social mortgage program,
the realization of which is planned to start in 2008.