ArmInfo.The Armenian government has approved a loan program for housing renovation, which will be implemented with state support. As Prime Minister Nikol Pashinyan noted during a government meeting on May 26, loans will be issued to citizens for a period of 7 years, with an interest rate of 14%.
However, thanks to the state subsidy, residents of border communities and villages will be able to use the program at a zero interest rate, residents of rural areas - at a rate of 2%, residents of cities - 3%, and in the capital the loan program will be available at a rate of 5%.
As the prime minister explained, a prerequisite for participation in the state housing renovation program should be the partial use of credit funds for energy efficiency. In particular, in the case of apartments, this share will be 20%, in the case of own houses - 30%. In addition, 10% of the funds should be directed to the purchase of high-quality power engineering.
According to Pashinyan, this program also sets itself the task of reducing the shadow turnover. In this regard, he noted that 70% of the loan funds should be spent through non-cash transactions.
At the same time, the head of government expressed hope that thanks to the implementation of the housing renovation program, jobs will be created in the private sector, which will provide seasonal work for labor migrants who, due to well-known reasons, could not go abroad to work.
It was also noted that all banks of the Republic of Armenia are participating in the housing renovation program, which will exercise strict control over the targeted use of credit funds.
