Affordable housing for young families program was approved at Jan. 29 meeting of the Armenian government . "With this decision, the government launched a large-scale program to support young families, which is a priority in pre-election program of the president," Arsen Karamyan, Deputy Minister of Sport and Youth Affairs told a news conference. According to him, provision of young families with affordable housing will be Government’s priority for the coming years, while by 2012 issue of affordable credits for the purchase of cars will be solved.
He also reminded that benefit increases resulted in the birthrate growth in the country, where in 2009 3000 more children was born in comparison to 2008," he said.
In turn, Deputy Finance Minister Vartan Aramyan new mechanism will be offered to alleviate the loan burden for young families. According to him, instead of operating 14-15 per cent per annum loans young families will be able receive loans at 8-10 per cent per annum for 10 years.
The gross family income should be around AMD 300-380 thousand, which include not only revenues of the young members of families, but also relatives, thereby lending conditions will not seem fantastic, and the monthly payments will amount to AMD 130-160 thousand.
