YEREVAN, February 10. /ARKA/. The authorities in Artsakh (Nagorno-Karabakh) will provide state support to borrowers, Artsakh Finance Minister Grigory Martirosyan said during a meeting at the Union of Banks of Armenia. The meeting was attended by representatives of Armenian banks which provided loans to Artsakh residents and companies
According to Martirosyan, if a draft law on state assistance program developed by the Artsakh government is approved by its parliament, individuals and legal entities who have mortgage, business or consumer loans received before September 27, 2020 will be able to benefit from state support in the near future.
The heads of commercial banks, stressing the importance of close cooperation with financial institutions operating in Artsakh, presented details of programs to assist borrowers in Artsakh.
In particular, a grace period has been provided to individuals for the repayment of the main part of the loan amount (except for mortgages and gold-secured loans) with a balance of 30 million drams (or equivalent in foreign currency) from October 2020 to March 31, 2021. The maturity of loans is also extended.
During the meeting, it was noted that banks are applying individual approach to legal entities to mitigate their debt burden if possible. -0-
