Republican Party of Armenia

A regular Cabinet meeting was held today, chaired by Prime Minister Hovik Abrahamyan.

The Government amended one of its previous decrees with a view to involving greater number of young families in need of better housing conditions in the Affordable Housing for Young Families target program and make available affordable mortgage loans to program beneficiaries.

In particular, the aggregate age of spouses in target families is set at 65 years instead of 60. Furthermore, the property price bracket will be 25 million drams instead of AMD 16 million. Young families in Yerevan may get a mortgage with 10% down payment instead of 30%, if they can pledge another piece of immovable property in addition to the one stipulated in the program.

The maximum amount of mortgage loans has been increased to AMD 17.5 million from the current AMD 11.2 million is proposed to make money (70% of the cost of the purchased housing), which will allow beneficiaries greater access to housing choice.

Prime Minister Hovik Abrahamyan highlighted the program, noting that the Government is prepared to take on extra financial burden to that end.

Under the next agenda item, December 1, 2016 was set as the deadline for the signing of housing contracts in relation to the construction of apartment buildings in the framework of the ongoing State-supported housing program, which is aimed at solving the housing problems of homeless families in the disaster zone.

Stressing the importance of today’s decision, the Prime Minister said it is even coming with some delay. “People have lived in these apartments for many years and do not have a certificate of ownership. Without accepting any justification, I am instructing the Minister of Territorial Administration and Development, all territorial administrations and local authorities to pursue this project with responsibility. “I believe it to be an extremely important issue,” the Premier said. Hovik Abrahamyan stressed that there are many outstanding problems in the disaster zone and commissioned the Minister of Urban Development to make an inventory and give a final solution to all these questions.

The Government adopted a relevant decision to ensure the use and management of financial resources available under the USAID-supported Assistance for Armenia’s Anticorruption Strategy program. The grant program is to assist the Government of Armenia with the implementation of its 2015-2018 anti-corruption strategy.

The allocated funds will be spent as follows: establishing a committee of experts to work with the Anti-Corruption Councill; launch of the 2015-2018 anti-corruption strategy, development and implementation of a strategy of cooperation with the stakeholders.

The Executive next approved the 2016 program of activities and an action plan for Gyumri and Vanadzor technological centers. Designed under the Government’s technological and balanced territorial development policy, the program is aimed at building up the necessary infrastructure in the regions in order to help reduce socio-economic disparities between Yerevan and marzes, develop the IT sector, attract investment and improve the business environment.

To give the citizens of Armenia the opportunity to visit the graves of their late relatives on the Memorial Day following the Resurrection Day of March 27, the meeting decided to substitute the business day of March 28 with the Saturday of April 2, 2016.