ABOUT ARMENIAN HYPOTHEC
Support A1+!A seminar focused on the EU experience in hypothec market development area was held Friday in Tekeyan culture center in Yerevan. Former director of European Commission and current Adviser of Denmark’s Hypothec Credits Association Ole Bus Henriksen presented European countries’ experience in this sphere.
He says hypothec credit is being given for up to 30 years on condition of 5-percent repayment in many of the European Union member countries.
Armenia’s trade banks so far give credits under 14 to 18 percents for 5 years.
Armenian Central Bank governor Tigran Sargssyan said hypothec credits rose four times in Kazakhstan within this year. In his words, hypothec bank system in our country can rise at the same speed.
