Yerevan /Mediamax/. Starting next week, newly-established Mortgage Fund will start actively refinancing mortgage credits, provided by banks, Chairman of the Central Bank of Armenia (CB) Artur Javadyan stated in Yerevan today.

Mediamax reports Artur Javadyan noting that the activity of the Mortgage Fund will lead to reduction of credit interest rates and prolongation of terms for mortgage credit issue.

CB Chairman expressed opinion that the activity of the Mortgage Fund and placement of credit means, provided to Armenia by Russia and international financial institutions, will take the credit interest rates of the Armenian banking system to the level of early 2008.