YEREVAN, July 4./ARKA/. ACBA-CREDIT AGRICOLE BANK is now offering mortgage loans within the framework of its “Affordable housing for young families” program, the bank reported Thursday.

The mortgage loans are introduced specially for those young families that would like to purchase affordable apartments or houses in Yerevan and the regions of Armenia.

The loans will be given in AMD for 10 years at an annual interest rate of 10.5%. Subsidies in Yerevan will be at 2%, in the regions -4%.

“The program is merely socially-oriented and adheres to the policy of ACBA-CREDIT AGRICOLE BANK,” the source stated.

ACBA-CREDIT AGRICOLE BANK (formerly the Agricultural Cooperative Bank of Armenia, ACBA) was established in 1996 as part of EU’s TACIS Program. Its major shareholders are the French Credit Agricole SA -15.56%, SACAM International joint stock company -12.44%, as well as farmers’ mutual aid associations in 10 regions of Armenia.—0-