15:49, 10 April 2009 Page views 262 views

Armenia Launches Mortgage Program

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According to the Central Bank of Armenia, the country plans to get 20 million Euro credit from KfW Bank (Frankfurt, Germany) to the end of July, 2009. Currently KfW program on 6 million Euro is being implemented via German-Armenian Fund.

Today the total sum of mortgage credits in Armenia exceeds AMD84 billion (USD225 million). Percentage of mortgage loans in total banks’ credit portfolio amounted to 13.01%.

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