We are taking a $250 million loan for the housing provision of displaced individuals from Nagorno-Karabakh

We are taking a $250 million loan for the housing provision of displaced individuals from Nagorno-Karabakh. This was stated by David Khachatryan, Deputy Minister of Labor and Social Affairs, during a special session of the National Assembly's Standing Committee on Financial and Budgetary Affairs, while presenting the reform program for resilience enhancement to be signed between the Republic of Armenia and the Asian Development Bank.

"The aim is to develop an inclusive housing system in Armenia for families forcibly displaced from Nagorno-Karabakh," said Khachatryan.

According to him, the Government has approved a housing support program, which has been operational since mid-2024, with approximately 1,600 families already securing housing.

Regarding the conditions of the program, it was noted that the loan amount is $250 million, provided for a period of 27 years, with the first 10 years being a grace period and the deadline set for December 31, 2030.

"Starting from 2035, payments are expected to be made twice a year semi-annually. In parallel with the program, a grant of $16.45 million will be available, sourced from the global financing facility for concessional funding," the Deputy Minister informed.