Yerevan /Mediamax/. The government of Armenia issued 60.5bln AMD from the funds of Russian stabilization loan to the Central Bank of the country for securing the loan portfolio of Hypothec Company.

Mediamax informs that Deputy Minister of Finance of Armenia Vardan Aramyan announced this at a news conference in Yerevan today.

He said that within crisis preventive measures the government has begun to implement stimulating steps to revive capital construction. On the one hand, the government provides governmental guarantees to credit construction companies, on the other hand, it finances the Hypothec Company to issue affordable loans to commercial banks in Armenia.

Deputy Minister informed that from the allocated funds, the Hypothec Company has already issued about 15bln AMD as mortgage loans. "In this context, aggressive behavior of commercial banks, which play a direct role in the issue of spreading loan funds in the real sector, is important", Vardan Aramyan said.

Deputy Minister called commercial banks not to "wait for creditors", but to switch over to more flexible marketing policy for attracting business entities.