ALL INTERESTED FAMILIES CAN PARTICIPATE IN STATE PROGRAM "AVAILABLE APARTMENTS TO YOUNG FAMILIES"

/ARKA/
April 6, 2010
YEREVAN

All interested families can participate in the state program "Available
apartments to young families", said Mher Yedigaryan, Director of UCO
"Apartments for youth".

"I would like to announce will full responsibility that the rumors
about predetermination of the program are groundless. All the families
who want to obtain an apartment or a house and satisfy the defined
requirements can participate in the state program "Available apartments
to young families", said Yedigaryan in the interview to "ARKA".

"Lists of future creditors" is the result of last year studies of
the Ministry of Youth and Sport. The aim of the enquiry was to study
the demand of improvement of living conditions of young families,
as well as development of state support model.

For receiving credit, it is necessary to apply to the banks and
credit organizations which cooperate with UCO "Apartments for youth"
where they can obtain full information about the procedure of standard
mortgage loans.

"The program covers not only Yerevan but also the regions. Regions
have some privileges as real estate prices are cheaper in the regions
than in Yerevan", said Yedigaryan.

On January 29 the Government of Armenia approved the program
"Available apartments to young families" in the amount of 3 billion
drams. According to the requirements of the program, young family
is the family where the total age of the couples is not more than
60 years, one of the couples is not more than 35 years and the age
of single parent does not exceed 30 years. Maximum size of credit is
16 million drams. UCO "Apartments for youth" was registered and got
license on February 16, 2010 by the decision of the Armenian Central
Bank.