Wed, 22 October
18.1 C
Yerevan
USD: 382.53 RUB: 4.71 EUR: 444.42 GEL: 141.18 GBP: 511.94

Over 120 Armenian young families to receive auto loans at low interest rates

YEREVAN, March 2. /ARKA/. Over 120 Armenia young families will get a chance to receive auto loans at low interest rates, Arsen Kamaryan, Deputy Minister of Sport and Youth Affairs of Armenia, said on Friday.

“On April 15, 2012, “Affordable vehicle for young families” program is going to be kicked off. The program was included into President Serge Sargsyan’s campaign trail of 2008,” he said.According to him, negotiations with the Central Bank of Armenia led to developing auto lending conditions for young families. The State will subsidize 2% of the cost of credit as a result. Thus, the recipients will get loans at 10% annual interest rate for 7-10 years. “The project received 500 million drams for implementation. Young families will have a chance to buy a car at “Kia Motors” auto salon, where they can find three car classes at very affordable prices,” Karamyan said.He also clarified that auto loans will be available for those young families whose total age of spouses is up to 60. “Moreover, none of family members should have any vehicle registered in his name, and income of each spouse should be 60,000 and more drams per month,” he noted.The project is co-funded by the German-Armenian foundation and the Central Bank of Armenia. ($1-388.57 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img