On April 19 President of the Artsakh Republic Arayik Harutyunyan approved Government's decision on confirming the measure of state financial support to individuals and legal entities that suffered material damage as a result of the hostilities unleashed by Azerbaijan against the Artsakh Republic on September 27, 2020.
The measure will be implemented by cadastre and state property management committee of the Artsakh Republic.
State financial support for the actual loss of property will be provided to the beneficiary through financial assistance and/or treasury with 10% annual profitability and with the redemptions of bills for a period of 5 years.
Up to 5 million AMD of the support amount will be provided by financial aid, and the part exceeding 5 million AMD will be provided by the redemption of bills whose issuance, provision, circulation, registration and redemption will be carried out in accordance with the procedure established by the Government of the Artsakh Republic.
In case of implementation of a business plan in the territory of the Artsakh Republic, the fulfillment of tax, credit and other accounts payable obligations, the bill may be repaid before the expiration of the term.
According to Government's decision if the beneficiary of the program has also been provided with state support for the fulfillment of credit obligations, then in the framework of this measure, the assistance will be provided in case of a positive difference between the estimated amount of property loss and the support provided for the credit liabilities, in the amounts defined by the measure.
The measure defines the types of lost property to be supported and the corresponding amounts of support.
You can access the decision at the following link (http://bit.do/fQyj4).
On April 19 President Arayik Harutyunyan approved another Government's decision, according to which changes and amendments were made to the state financial assistance program to fulfill the loan obligations of individuals and legal entities in difficulty, as a result of the hostilities unleashed by Azerbaijan against Artsakh on September 27, 2020.
The circle of project beneficiaries has expanded, the borrowers of the pawnshops were also included.
According to the decision, the assistance provided to the individuals living in the occupied territories of Azerbaijan, in the amount of all mortgage and consumer loan liabilities will be applied to the liabilities of financial-credit institutions.
Economic entities that are beneficiaries of the program, carrying out in the occupied territories, as well as those who suffered damage as a result of hostilities, and who have obligations for business loans in financial and credit institutions, will be provided assistance in the amount of damage, but not more than 50 percent of these obligations.
You can access the decision at the following link (http://bit.do/fQykM).
On the same day the head of state signed a decree, according to which a state commission was set up to support individuals and legal entities that suffered material damage as a result of the war unleashed by Azerbaijan against the Artsakh Republic on September 27, 2020.
The decree approved the individual staff and procedure of the commission.
Karen Shahramanyan, chairman of cadastre and state property management committee of the Artsakh Republic was appointed chairman of the commission.
In the coming days, after additional work, the authorized body will issue a statement, after that, the citizens can apply to the commission to determine and approve the amount of material financial and state financial support.