Artsakh Investment Fund (AIF) as the successor of SNCO was founded in 2007, November 1 by the decision of the Government Decree No 451 of October 29, 2007. The foundation is realizing AR annual state support programs as well as the process of financial supports to purchasing apartments by means of mortgage lending.
The supreme body of AIF is the Board of Trustees. The Board is headed by State Minister AR, Ministry Economy and industrial infrastructures of AR,Minister Finances of AR,Advisor toth AR President-AR oresidents representative at large, Head of the administration of governmental affairs of the President’s office – first deputy head of the President’s office, Head of the socio-economic Department staff of the State Minister AR.
AIF realizes its activities through the Office ( Tigran Mets 37/22 Street).
1. To stimulate the development of diverse social economic areas;
2. To provide support to start-up and existing business .
Within the activities of the state program AIF implements :
1. SMEs state supporting projects
- Financing of the capital of SME subjects
- Supporting of upgrading the production capacity of SMEs
- Financial supporting of SMEs subjects
- Partial subsidizing of annual interest of SMEs
- Business informative and advisory support to the SME subjects
- Supporting of innovations and modern technologies investments into SME subjects
- Supporting of production / offers of services for the development in the markets released by the SME subjects
- Financial supporting projects for the mortgage lending of purchasing or repair(s)
2. Projects aimed at supporting to get an apartment or renovation with mortgage loans:
-Partial subsidizing of mortgage loans on annual interest rates
-Providing of credit targets of advanced mortgage loans
-Construction of apartments/villa/buildings for provision via mortgage loans
-Purchasing of apartment /villa via mortgage loans
-Giving mortgage loans to the citizens of regions aimed at house purchase .
3. Giving mortgage loans to rural settlers of AR
4. Other targeted projects:
-return of investments
- commercial companies creation or participating in that work.