Some 30 loans refinanced by Armenian national mortgage company

YEREVAN, September 4. /ARKA/. Armenian National Mortgage Company has
refinanced some 30 loans totalling $150 million, David Harutyunyan,
Armenian prime minister’s assistant, said at a press conference on
Friday.

The company intends to refinance another 60 credit agreements worth
$300 million, he said.

National Mortgage Company, universal credit organization, registered on
June 16, 2009, started operating on July 13.

Its initial capital amounts to AMD 5 billion.

In addition, the cabinet ministers earmarked AMD 12 billion for the
financial and banking system.

Earlier, Armenian Central Bank Chairman Arthur Javadyan said that
preliminary limit was set at AMD 12 million, but it was decided later
to raise it up to AMD 20 million.

The company cooperates with six banks ` Armbusinessbank, Araratbank,
Anelik Bank, Armeconombank, Artsakhbank and Areximbank (Gazprombank’s
group).

The number of organizations cooperating with the company is expected to
double soon. ($1 = AMD 376.08). M.V. –0–