RA Central Bank tyring to resolve housing problem for border region residents 

ArmInfo. The Central Bank of the Republic of Armenia is trying to solve the problem of residents of the regions of Armenia bordering Azerbaijan who cannot take advantage of the housing purchase program. This was stated by the Chairman of the Central Bank Martyn Galstyan in the National Assembly  of the Republic of Armenia on June 18, answering a question from the MP from the opposition faction "Armenia" Gegham Nazaryan.

The MP, in particular, raised the issue of refusing to provide 16  million drams from the state budget to residents of border regions to improve their housing problems due to the presence of debts to the country's commercial banks.

In response, the head of the Central Bank noted that negotiations are currently underway with partners from the Ministry of Finance and commercial banks to resolve the problem. "The issue is that these people have a bad credit history, and if there are credit debts, providing a new loan should not become a practice. We will try to  find solutions that will help people and will not harm financial  stability," the country's chief banker noted. Let us recall that in  June last year, the RA government amended the program for ensuring housing availability for residents of the country's border regions. According to the program, they are provided with a mortgage loan, the interest on which is fully repaid by the RA government.