Yerevan /Mediamax/. Armenian Prime Minister Tigran Sargsian stated in Yerevan today that the government is in process of talks with the World Bank and the German KfW Bank on attracting financial means for mortgage crediting of young families.

Mediamax reports that the Prime Minister stated that increase of the volumes of credit means will lead to natural decrease in interest rates. Tigran Sargsian noted that today commercial banks provide mortgage credits for the term of 10-15 years, and the government strives to reach prolongation of terms up to 20-25 years.

According to the Prime Minister of Armenia, these steps will allow significantly improving the situation in the market of mortgage crediting and securing affordability of credits for young families.

Chairman of the Central Bank of Armenia Artur Javadyan informed today that this week he will participate in the session of the Supervisory Board of the German-Armenian Fund in Frankfurt. At the session, in particular, they will discuss the issues of providing Armenia with means at the volume of 20mln euro by KfW to develop the mortgage market.