Where Those Forcibly Displaced from Nagorno-Karabakh Should Apply to Retrieve Pledged Gold

The Minister of Finance Vahé Hovhannisyan outlined the procedures for the forgiveness of loans taken against guarantees by individuals forcibly displaced from Nagorno-Karabakh, as well as the return of the pledged gold items.

In an interview with Armenpress, Hovhannisyan noted that around 6,000 individuals forcibly displaced from Nagorno-Karabakh have loans tied to gold items, some of which were already provided by banks at the time of displacement, while others had already relocated to Armenia. This concerns approximately 1,800 loans.

“The person forcibly displaced from Nagorno-Karabakh must submit an application, and based on that application, an agreement will be signed with each individual regarding the return of the collateral and the forgiveness of the loan. Afterwards, we will inform them where and how they can retrieve these items,” said the minister.

According to the minister, this decision applies to loans secured by collateral that do not exceed 2.5 million drams. “This decision will be relevant for those who have loans secured by collateral up to 2.5 million drams, as for those with larger loans, additional research will need to be conducted to clarify the financial capabilities of those individuals. We do not want to forgive loans for individuals who have significant financial means, but only for those whose financial situation is critical,” emphasized the minister.