Government to cut loans of few thousand military personnel in half in massive support program

11:18,

YEREVAN, DECEMBER 24, ARMENPRESS. The government is planning to cut in half the bank loans that have been previously taken by military personnel. A few thousand servicemen, officers and corporals, will benefit from the move, caretaker Prime Minister Nikol Pashinyan said on Facebook.

“The meaning of the decision is to cut the interest rates of the loans up to by half and to extend the deadlines,” he said.

“As a result, for instance if a military serviceman is paying 50,000 drams monthly in interest rates, after the planned changes the serviceman will start paying for this same but reconfigured loan 25,000 a month. Less by half,” he said.

Pashinyan said that the government will soon also address the issue of assistance for housing matters of former military.

“This, certainly will not be a complete solution, but the issue will begin to move from the deadlock. We will soon also make decisions about the acquisition of apartments of active military personnel,” Pashinyan said.

Edited and translated by Stepan Kocharyan