YEREVAN, July 11. /ARКА/. 14,757 applications for writing off bad loans have been received in Armenia within the framework of the relevant state support program, which started on February 1, 2025. This was reported by Armen Margaryan, Head of the Family Benefits Department of the Pension Provision and Other Cash Payments Department of the Ministry of Labor and Social Affairs of the Republic of Armenia.
According to him, about 4,400 applications from beneficiaries with bad loans have already been approved.
“As of June 2025, about 3,400 applications have already been sent (to banks and credit organizations – ed.) for compensation. At present, about 398 million drams have been spent on the implementation of the program,” Margaryan said at a press conference on Friday.
According to him, another important indicator has been recorded in recent months – about 1,000 people have been employed, who then became beneficiaries of this program.
“Beneficiaries can be citizens of Armenia, citizens with dual citizenship, as well as persons under temporary protection. The term of their bad loans must be less than 3 years, the principal amount must not exceed 1 million drams, they must be employed according to the State Revenue Committee data and receive a salary. The application can be submitted on the digital platform – e-social.am,” Margaryan said.
He noted that applications from citizens whose data do not meet the specified parameters are rejected.
About the state program
The program to support citizens with bad loans will last until January 31, 2026. Assistance can be received for a maximum of 2 years.
According to the Central Bank of the Republic of Armenia data as of October 1, 2024, about 341 thousand debtors had the status of unreliable borrowers, and their credit load was about 642 billion drams. At the same time, only about 20% of unreliable borrowers were officially employed. ($1 – 383.74 drams).
