National Mortgage Company introduced Jerm Ojakh energy-efficient housing renovation program in Vanadzor today.

The main goal of the community meeting was to present the general provisions, benefits of the program for households in Armenia, as well as to raise stakeholders’ questions and provide answers to them.  

The CEO of the National Mortgage Company Haig Voskanyan, representatives of Vanadzor condominiums, educational institutions, municipality and media, as well as local businessmen participated in the meeting.

Vanadzor is the second province town after Dilijan where Jerm Ojakh program has been introduced.

The main purpose of Jerm Ojakh loan program is to enable low and middle-income households to renovate their habitation, create comfortable life, reduce residential energy expenses, as well as promote the development of energy-efficient housing stock in towns and villages of Armenia.

Developed by the Agence Française de Développement and implemented by the National Mortgage Company the new facility aims to provide Armenian households with affordable, dram-denominated loans and micro-loans for energy efficient renovation. Each loan offers a cash-back-bonus provided by the EU Neighbourhood Investment Facility upon fulfilment of certain energy efficiency criteria.

Local Armenian financial institutions that signed agreements with the NMC are the contact point for obtaining the loans and will process the cash-back-bonus towards the end-consumer on behalf of AFD and NMC.

The technical assistance of the program is provided by Kommunalkredit Public Consulting GmbH (KPC), MicroEnergy International GmbH (MEI) and the National Social Housing Association of Armenia (ASBA) foundation.