Fri, 7 February
-4.9 C
Yerevan
USD: 396.83 RUB: 4.08 EUR: 411.16 GEL: 141.23 GBP: 492.74
spot_img

Armenian government and Central Bank work on mortgage program for repatriates

YEREVAN, April 12. /ARKA/. The government of Armenia together with the Central Bank is elaborating a program of preferential mortgage lending for repatriated Armenians, Prime Minister Nikol
Pashinyan said on April 11 during a meeting with the Armenian community of Strasbourg, France.

According to the Prime Minister, the repatriation issue is one of the most important issues on his government’s agenda.

“Regarding this issue there are many ideas. For example, one of the questions asked is what potential does our country have for taking in repatriates. Some say they should be provided with preferential loans; however, such an approach can cause fair discontent of those citizens who never left their homeland. In this regard, we strive to ensure equal conditions for all,” he said.

The head of the government recalled that during a meeting with the Armenian Diaspora in Austria, the idea of ​​ preferential mortgage lending for repatriates that can be patterned from the government-supported programs like “Affordable Housing for Young Families”, “Affordable Housing for Young Professionals” and others was proposed.

In September 2018, the Armenian government approved a set of changes to the program “Affordable Housing for Young Families”. Besides, in early March 2019 the government revised the terms of the crediting program, which are expected to make the availability of mortgage lending to a larger number of beneficiaries. As a result of changes, the interest rates and the down payment amount decreased, the loan repayment term was extended, and the combined age of spouses increased. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Strong demand for mortgages and consumer loans keep interest rates high – Central Bank of Armenia

One of the phenomena faced by the Central Bank of Armenia is the huge demand for loan products, the regulator's head Martin Galstyan said at a press conference on Tuesday.

Armenia’s inflation in 2025 may approach lower threshold of target – Central Bank

The inflation target in Armenia for the current year is set at 3%, and by the end of 2025 it will most likely approach the lower limit, Central Bank Chairman Martin Galstyan said at a press conference on Tuesday.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Loans show faster growth than deposits in December – Finance Ministry

Financial intermediation by the Armenian banking system in December 2024 continued to outpace economic activity, also characterized by a higher growth rate of loans compared to deposits, according to the Armenian Ministry of Finance's report titled "Review of Macroeconomic Developments. December 2024." Unlike December 2023, the growth in loan volumes (24.2%) exceeded the growth in deposit volumes (13.9%).

LATEST NEWS

spot_imgspot_imgspot_img