In order to promote energy-efficient housing construction in Armenia, Converse Bank has launched a new Housing Finance project.

The bank remarks that the lending project is implemented within the frames of Converse Bank’s cooperation with the National Mortgage Company.

“Within the frames of the 4th stage of the Housing Finance project (in Armenian), lending will give an opportunity to improve the housing conditions, ensure the best thermal insulation of the apartment using the latest technologies in the process of construction or repair, switch over to energy saving, as well as purchase household appliances of energy-efficiency class (above A +),” the message reads.

The bank emphasizes that they offer affordable lending conditions for residents in remote areas. Application of environmentally-friendly, energy-efficient materials during construction and repair are among the most important components of the bank’s lending policy.

“Within the frames of the 4th stages of the Housing Finance project to be implemented in Armenia, mortgage lending will be carried out in two directions: Energy Efficient Mortgage Loans and Regional Mortgage Loans. The second loan type does not impose a mandatory requirement to ensure energy efficiency. The customers will be provided with loans for maximum amount of AMD 25 million and maximum maturity of 20 years, at the annual interest rate of 11%,” the bank added.

Converse Bank and the National Mortgage Company have been cooperating since year 2010, implementing various projects connected with mortgage loans.