National Mortgage Company introduced Jerm Ojakh energy-efficient housing renovation program in Syunik region on May 14.

The purpose of meetings in town of Goris and regional centre Kapan was to present the general provisions, benefits of the program for households to the stakeholders and potential beneficiaries of Syunik region.  

The CEO of the National Mortgage Company Haik Voskanyan, representatives of local condominiums, educational institutions, municipalities, and local businessmen participated in these gatherings.

The main purpose of “Jerm Ojakh” loan program is to enable low and middle-income households to renovate their apartments and private houses, 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 long term loans with relatively low interest rate for energy efficient renovations. Each loan offers a cash-back bonus provided by the EU Neighbourhood Investment Facility upon fulfillment 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. As of May 08th, 2015, the total amount of 128.6 M AMD was refinanced by the NMC in scopes of the program and 76 credits were provided to the Armenian families.

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.