Yerevan, March 19 /Mediamax/. 700mln AMD is allocated from the state budget of the Nagorno-Karabakh Republic (NKR) for the realization of a mortgage crediting program.

Mediamax reports that the NKR Prime Minister Anushavan Danielian said this, answering the questions of the visitors of the “Azat Artsakh” newspaper’s website. He noted that the possibility to improve the housing conditions will be given not only to young families, but also the citizens, which will be chosen by the expert commission.

“The Nagorno-Karabakh Republic is the only country in the region, which, at the expense of the state budget, took up the realization of a mortgage crediting program on preferential terms - by a 6% annual interest rate and up to 20 years time to run”, Anushavan Danielian stated.

The NKR government is also working out a social mortgage program, the realization of which is planned to start in 2008.