The Armenian government today decided to allocate 400 million drams (US$902,400) in housing assistance to families with minor children.

“The program has the following three components. One-time financial assistance is provided to purchase an apartment with a mortgage loan or build a private house in the regional settlements, the second component is to provide financial assistance to the beneficiary to pay the insurance premium, and the third is to provide a mortgage loan to a family,” Minister of Labor and Social Affairs Narek Mkrtchyan said after the decision was taken.

Armenian PM Pashinyan remarked that 3,250 families have received housing assistance to date and that another 2,500 will receive benefits this year.