NKR PRIME MINISTER URGED THE BANKERS TO OFFER MORE AVAILABLE TERMS OF CREDITING
Mediamax Agency
Dec 3 2007
Armenia
Yerevan, December 3 /Mediamax/. Government of the Nagorno-Karabakh
Republic (NKR) is reconsidering its credit policy.
As Mediamax was told in the press service of the NKR government,
the Prime Minister of the republic Ara Harutiunian said this during
the meeting with the Heads of banks, functioning in Nagorno-Karabakh.
Ara Harutiunian spoke for the necessity of wider attraction of banking
capital for the realization of mortgage crediting programs and programs
of small and medium enterprise crediting.
By means of attracting state and bank financial means, it is planned
to assist the population of the republic.
There was an agreement reached between the government and the banks
on realization of active mortgage crediting on preferential terms in
regional centers of NKR. The first three years, the borrowers will
pay only the interest, after which they will start repaying the main
sum. For purchasing or construction of dwellings, 12% annual interest
rate will be functioning, half of which will be paid by the state.
Mortgage credits will be provided for the term of 15-20 years.
The banks will offer acceptable conditions for crediting of small
and medium enterprises as well. Instead of the present 2-3 years,
the credits will be provided for the term of 5 years on a simplified
scheme.
NKR Prime Minister urged the bankers to actively cooperate with the
Investment Fund of NKR, by means of which the state will be realizing
all its credit programs.