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Armenian government to release 5.7 billion drams for retired career army officers to buy homes

27.12.2018, 16:25
The government of Armenia decided today to release 5.705 billion drams from its reserve fund for purchase of a house or improvement of housing conditions by retired army officers.

Armenian government to release 5.7 billion drams for retired career army officers to buy homes
YEREVAN, December 27, /ARKA/. The government of Armenia decided today to release 5.705 billion drams from its reserve fund for purchase of a house or improvement of housing conditions by retired army officers.

Acting Defense Minister David Tonoyan said the funds will be allocated to those retired career army officers who were not provided with housing during their service. He said the assistance will be provided to 1,140 military personnel, of whom 326 are in Yerevan. All of them will receive 5 million dram certificates for the purchase of housing.

"This is a big progress, and most of the beneficiaries will be able to benefit from this program. This way we are also trying to stimulate the development of regions where this amount is enough to build a privately-owned house," said Tonoyan.

First Deputy Prime Minister Ararat Mirzoyan said this certificate should be enough to buy housing in the region or make an advance payment for the purchase of an apartment in Yerevan. ($1 - AMD 483.81). -