Affordable Housing for Young Families program fund to reach AMD 4bln in 2011

Affordable Housing for Young Families program fund to reach AMD 4bln in 2011
January 20, 2011 - 12:53 AMT

PanARMENIAN.Net - During the January 20 government sitting, Armenian Minister of Finance Vache Gabrielyan said that 223 loans at the total amount of AMD 1.7bln were allocated in Armenia in 2010 under Affordable Housing for Young Families program, with the state subsidies amounting to AMD 35mln.

According to Gabrielyan, in 2011 the amount of state subsidies will make AMD 88mln, of which AMD 22mln will be allocated in the first quarter of 2011, with taking into consideration the revised terms for residents of the country’s regions.

Gabrielyan added that, according to the ministry’s calculations, 300 loans will be allocated in 2011, while the program fund will be increased by AMD 1bln to reach AMD 4-4.5bln.

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