11:42, 9 June 2022

YEREVAN, JUNE 9, ARMENPRESS. The government approved today the 2022-2024 state support program for providing housing access to families in border settlements.

“This is a project of boosting the process of improving the housing conditions of families in border settlements. By easing the credit burden, we give the families with the opportunity to settle in a private house built by them in their preferred border rural settlement. This project is one of the important components for the proportionate development of rural communities”, Minister of Labor and Social Affairs Narek Mkrtchyan said at the Cabinet meeting today.

He said that the state assistance for this project is provided to a beneficiary who received a mortgage loan by banks or credit companies. The state assistance is directed to repaying the monthly principal amount and interest rates of the mortgage loan. “The state support provided to the beneficiary for servicing the mortgage loan in ten years will comprise around 20 million 600 thousand drams”, the minister said.

The minister said that the program beneficiaries are spouses registered in the population registrar of Armenia, at least one of whom must be a citizen of Armenia. There is no age limitation and a requirement for having a child. Newly-created families are the main target of this project.