Wednesday, 14 July 2010
The pilot program gains momentum
A Prime Minister Tigran Sargsyan-chaired consultative meeting was held today at the Office of Government to discuss the status of Affordable Housing for Young Families program.
Progress and future action were reported on by Deputy Minister of Finance Vardan Aramyan, Deputy Minister of Sport and Youth Affairs Arsen Karamyan and Deputy CBA Chairman Vacheh Gabrielyan.
Nearly a hundred loans amounting to AMD 1bn were said to have been made available under the program, with 80% offered in Yerevan and 20% in the provinces.
While pleased with the pace of program implementation, Tigran Sargsyan nonetheless said to be dissatisfied at the low level of marz coverage. Mindful of ensuring proportionate regional development, the head of government charged the Ministry of Finance to draft a government decree on improved terms and conditions applicable under this pilot program which was approved on January 29, 2010. The Ministry of Sport and Youth Affairs was directed to activate public awareness raising efforts in the regions.
In conclusion, considering that there is a great demand for housing among young families nationwide, the meeting noted that the projected program budget of AMD 3bn will have been spent in full by this yearend.
