The Armenian government today approved an additional allocation of ten billion drams (US$19,148,650) in assistance annually for ten years to Artsakh individuals and legal entities that suffered property damage because of the last year’s war.

The funds will provide compensation to those who lost a public/commercial structures, trucks, agricultural/construction and other equipment, fixed assets used in business, dairy/meat livestock, bee colonies, fruit and grape field.

 According to the decision, up to 5 million drams will be provided in the form of one-time financial support, more than 5 million drams in the form of a promissory note, which will allow for the implementation of business projects in Artsakh.

It envisages the full repayment of credit liabilities of persons previously living in territories beyond the control of the Artsakh government and the reimbursement of credit liabilities of legal entities up to 50%.

In the next three years, the partial or full repayment of mortgage, agricultural, small business loans of citizens permanently residing in Artsakh will be implemented for the next three years.

Photo (from left): Artsakh President Arayik Harutyunyan, Armenian PM Nikol Pashinyan