RA government approves loan for refugee housing needs

PanARMENIAN.Net - Armenia has approved a plan to secure a $250 million loan from the Asian Development Bank (ADB) to continue the state housing program for forcibly displaced citizens from Nagorno-Karabakh, reports Sputnik Armenia.

The loan is set for a 27-year term, with a 10-year grace period. It has a floating interest rate, and repayment of the principal will be made in 34 equal semiannual installments, beginning December 15, 2035, and ending June 15, 2052.

According to the justification, under the current state support program, 3,100 families displaced from Nagorno-Karabakh have received housing certificates, and 1,140 of them have already used them. Over 2 billion AMD has already been paid from the state budget under this program.

Based on these numbers and the program’s pace, the government deemed it appropriate to proceed with the agreement.

According to Armenia’s Migration and Citizenship Service, as of July 3, a total of 115,365 people were forcibly displaced from Nagorno-Karabakh since September 2023. Of those, 9,346 have acquired Armenian citizenship so far.