Yerevan /Mediamax/. The Mortgage Fund, talked about during the meeting of the heads of construction companies with the Prime Minister of Armenia, will become a stimulus for facilitating crediting terms, General Director of “Elite Group” Armen Mkoyan stated in an interview to Mediamax.

“We welcome the initiative of the government to set up a Mortgage Fund at the volume of $200mln, which will be functioning separately from banks and will allow the purchasers to acquire dwellings at more affordable terms”, Armen Mkoyan stated.

According to him, the activity of the Fund will push banks towards more active actions in the market and will contribute to facilitating conditions for mortgage crediting in Armenia.

Armen Mkoyan noted that in Armenia there will be no fall in prices for real estate because there are no necessary preconditions for that. According to him, “Elite Group” company has not stopped a single current construction project.

Answering the question of Mediamax on the plans of “Elite Group” in securities market, Armen Mkoyan informed on the intentions of the company to realize a new issue of bonds, at that noting that “at present an issue is not yet expedient”.