YEREVAN, March 22. /ARKA/. VTB Bank (Armenia) has become the key partner of “Available Housing for Young Specialists” program, the press office of the bank reported on Friday. According to the press release, the foundation-laying ceremony of Veratsnund Youth Town took place on March 22.

It was reported earlier that VTB Bank (Armenia) has won a tender and has become the main financial partner to this program, which is being implemented by the Union of the Yerevan State University Graduates.

VTB Bank (Armenia) will provide mortgage loans for purchasing apartments in the apartment blocs located in Monte Melkonyan Street. An appropriate cooperation agreement was signed at the foundation-laying ceremony, and the program beneficiaries put their message to future generations in the foundation.

VTB Bank (Armenia) will provide loans to beneficiaries from its own financial resources. The bank offers mortgage loans for up to 30 years, for a 10-to-20-percent prepayment and at a 10.8% annual interest rate.

VTB Bank (Armenia) is always paying special attention to development of Armenia’s mortgage sector and realizes the importance of mortgage lending – one of the most important factors of the country’s economic and social development.

The bank is always ready to provide loans very quickly and on the best terms and to contribute to the comfort of Armenia’s young specialists.

VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) is reckoned among leaders for general indicators. -0---