ARMENIAN GOVERNMENT GIVES BUDGETARY GUARANTEE TO 5TH BUILDING COMPANY

NOYAN TAPAN
JULY 9, 2009
YEREVAN

YEREVAN, JULY 9, NOYAN TAPAN. At the July 9 sitting, the Armenian
government made a decision to give a budgetary guarantee to Vahe
Harutyunian company to enable it to complete the building up process
at 51-53, Hanrapetutyan Street in Yerevan. This is the 5th company to
receive such a guarantee, RA Minister of Finance Tigran Davtian said.

RA Prime Minister Tigran Sargsyan said that quite strict requirements
for budgetary guarantees have been established. In case of their
provision, the state pays 30% of the property mortgaged. Money is
allocated for completing those structures, most of which has already
been constructed.

The prime minister announced that the Central Bank of Armenia had
promised that the Mortgage Fund will start functioning this month.