On June 23, National Mortgage Company presented Jerm Ojakh program in Hrazdan town, the regional centre of Kotayk marz of Armenia.

During the community meeting Hayk Voskanyan, the CEO of the National Mortgage Company, introduced the general provisions, benefits and the progress of the program to the local stakeholders.

''As of today, over 140 Mln AMD are provided through 85 credits to the Armenian families within the framework of “Jerm Ojakh”. The program also supports indirectly local suppliers and producers of energy-saving materials and equipment'', said Hayk Voskanyan.

Owing to Jerm Ojakh, any Armenian family can get dram-denominated long term loans with 11-14% annual interest rate and up to 2 years grace period. The loan will help families to implement energy efficient renovations of their dwellings and get monetary savings in conditions of constantly increasing energy prices.

Besides, additionally, each loan offers a 5 or 10% cash-back bonus sponsored by the EU Neighbourhood Investment Facility upon fulfillment of certain energy efficiency criteria. The loans and bonuses are provided to the beneficiaries through local Armenian financial institutions.

Jerm Ojakh social and energy efficiency housing finance program in Armenia has been developed by the Agence Française de Développement and is implemented by the National Mortgage Company through its partner banks and credit organizations.

The technical assistance of the “Jerm Ojakh” program is provided by a Consortium of Kommunalkredit Public Consulting GmbH (KPC), with participation of MicroEnergy International GmbH (MEI) and the National Social Housing Association of Armenia (ASBA) foundation.