Up to 16 million AMD Loan for Building Houses in Border Villages: 220 Applications Approved

As part of a state-funded program for building private houses in border villages, which has been implemented since 2022, a total of 220 applications have already been approved. Among them, there are individuals who have received the first and second parts of the financial support provided by the government, and the house construction process is currently active.

According to the program, the state provides loans of up to 16 million AMD through banks and financial institutions for the purpose of building houses. The entire amount is subsidized by the state, meaning that there is no financial burden placed on the citizen.

At a press conference held in the Armenian Press hall, Gayane Gharagyozyan, an advisor coordinating specific functions of the structural subdivisions of the Ministry of Labor and Social Affairs, noted that the Tavush region has been the most active in terms of applications, followed by Syunik. “During this period, there have been some positive developments in the program, and as a result, we are now seeing certain activity among citizens. The purpose of the program is to promote the development of Armenia's border rural settlements, address housing issues for demographically challenged families with low incomes, and refresh the housing stock in rural areas,” said Gharagyozyan.

Currently, there have been no applications from people forcibly displaced from Nagorno-Karabakh, but it is expected that there will be future applicants from their community. According to the program’s conditions, for an individual to become a beneficiary, one of the spouses must be a citizen of Armenia. Since many displaced individuals from Artsakh are currently in the process of obtaining citizenship, it is anticipated that they will also be interested in this program after acquiring citizenship.

It has been noted that the program can be utilized by individuals with registered marriages, and there are no age restrictions or considerations for having children or not. They must have a plot of land in one of the border settlements, along with a project and construction permit. With these documents, they can approach a bank and proceed with a regular loan application. In the case of loans up to 16 million AMD, the citizen's creditworthiness is not assessed, as the entire amount is covered by the state. The state may also offer a list of model house designs that citizens can use.

For the year 2024, the government plans to allocate 1.2 billion AMD for this program.