Armenian premier: quick introduction of mortgage lending concept necessary

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Economy

03.04.2009, 14:53

Armenian Premier Tigran Sargsyan considers it necessary to speed up the process of introducing the mortgage lending concept in the country.

YEREVAN, April 2. /ARKA/. Armenian Premier Tigran Sargsyan considers it necessary to speed up the process of introducing the mortgage lending concept in the country.

“We have many sportsmen, young families in the country who can take the advantage of the mortgage loans, and the concept that we are developing together with the Central Bank of Armenia, needs to be introduced as soon as possible,” the Premier said at the government meeting Thursday.

This has been one of the priorities in the election campaign program of Armenian President Serzh Sargsyan, the Premier said.

The reason for this statement was the discussions on the presidential instruction to allocate individual pensions to sportsmen and coaches who achieved high results on Olympics, world and European championships.

Mortgage loans extended by Armenia’s commercial banks had totaled 81.1bln Drams by the end of the fourth quarter 2008. ($1=369.85Drams). N.V. –0--

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