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News.am (13 February 2019)

The economic revolution should fund the banking system of Armenia, and the government will help so that interest rates on bank loans be as low as possible.

Prime Minister Nikol Pashinyan on Wednesday noted the aforesaid at the National Assembly debates on the five-year program of the government.

Pashinyan raised the matter of loan perception by people in Armenia, and said they wish to carry out respective awareness programs, together with the Central Bank of Armenia. 

The PM stated that today there is a positive phenomenon in Armenia’s banking system: providing of loans with lower interest rates.

As per Pashinyan, the overall bank interest rates will continue to drop in Armenia, and the government will continue subsidizing agricultural, student, and mortgage loans.

And as for microbusiness, the PM noted that a new 10-billion-dram (approx. US$20,506,900) loan portfolio will be created to fund people who want to start businesses in Armenia.

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