Yerevan/Mediamax/. “National Social Housing Association” Fund has been set up in Armenia.

Mediamax reports that according to the Director of the Fund Ara Nazinyan, the first session of the Board of Trustees took place yesterday, as a result of which the Secretary of National Security Council Artur Baghdasaryan was elected Chairman of the Fund.

Ara Nazinyan stated that the organization aims at providing families with low or average income with affordable housing. He stressed that NSHA intends to actively cooperate with governmental and local authorities in realizing investment programs on setting up the Social Housing Fund in Armenia. As to this issue, the Fund actively cooperates with Dutch partners, who have many years’ experience as to the issue of social housing.

According to the member of the Board of Trustees, Chairman of the Union of Employers of Armenia Gagik Makaryan, basing on the prospects of economic development, the Fund intends to develop this program in marzes. There is a preliminary agreement already reached for realizing the program of social housing in Dilijan and Hrazdan towns. He stressed that the priority will be given first of all to bordering territories, where housing construction is less developed.

Member of the Board of Trustees from the Dutch side, engineer Henck Vestra stated that in the Netherlands, 30% of the entire housing fund represents social dwellings. He noted that “this sector is not present in Armenia yet and we want to share our experience in this aspect”.

Director of the Fund Ara Nazinyan noted that in order to realize investment programs, at the first stage they plan to attract both Dutch companies, and Armenian commercial banks. He found it difficult to name the size of payments. He noted that they will be lower than the market ones. Ara Nazinyan noted that as of today, there are 30 thousand families in Armenia in need of social housing.