About 20,000 large Armenian families to continue using family capital for another year
02.03.2017,
16:41
The Armenian government has approved today a decision allowing about 20 thousand large families to use the so-called family capital for another year.
YEREVAN March 2. /ARKA/. The Armenian government has approved today a decision allowing about 20 thousand large families to use the so-called family capital for another year.
Labor and social affairs minister Artem Asatryan recalled that the family capital is given to large families with three and more children. It can be used to pay off a mortgage, school fees, and subsidized agricultural loans. Residents of remote and border communities can use the money to buy homes. Until January 1, 2017 a family could spend up to 25 thousand drams of the family capital per month.
According to the minister, since 2014, when the family capital was introduced, about 12.2 billion drams have been transferred to families’ bank accounts. He said of that amount 2.5 billion drams have been used already.
The government provides a lump sum of 50,000 drams for the first and second child. The size of benefit for the third and fourth child is one million drams and 1.5 million drams is paid for each next child.
Under the current procedure, parents can receive only 500 thousand drams in cash from the lump sum provided for child care; the remaining money is placed in a bank as a deposit for the child. ($ 1-486.71 drams). -0-
Labor and social affairs minister Artem Asatryan recalled that the family capital is given to large families with three and more children. It can be used to pay off a mortgage, school fees, and subsidized agricultural loans. Residents of remote and border communities can use the money to buy homes. Until January 1, 2017 a family could spend up to 25 thousand drams of the family capital per month.
According to the minister, since 2014, when the family capital was introduced, about 12.2 billion drams have been transferred to families’ bank accounts. He said of that amount 2.5 billion drams have been used already.
The government provides a lump sum of 50,000 drams for the first and second child. The size of benefit for the third and fourth child is one million drams and 1.5 million drams is paid for each next child.
Under the current procedure, parents can receive only 500 thousand drams in cash from the lump sum provided for child care; the remaining money is placed in a bank as a deposit for the child. ($ 1-486.71 drams). -0-
