Yerevan /Mediamax/. The Government of Armenia approved governmental target program on assistance to young families in acquiring a dwelling.

Mediamax informs, according to preliminary data, the number of potential participants in the program makes 300 young families.

Finance Minister of Armenia Tigran Davtyan informed that those families, where the spouses` joint age is not over 60, and each of them is not over 35 years old, can take part in the program. Single parents, wishing to take part in the program, should be under 30.

The total cost of the first part of the program will make 3bln AMD, directed at subsidizing the interest rate of commercial banks` mortgage loans.

According to the program, mortgage loans will be issued for a term of 10 years, at maximum rate in 10%. Maximal loan volume will make 16mln AMD.

Prime Minister of Armenia Tigran Sargsyan stated the importance of the program and expressed hope that it will find the first participants in the first quarter of 2010.