Yerevan/Mediamax/. Araratbank attracted USD5mln from Green For Growth Fund (GGF) for lending of energy-saving.

The bank's CEO Ashot Osipyan said that the loans will be granted to households as well as small and medium enterprise for funding solutions in the energy-saving field.

The loans will be issued to households for installment of power-efficient doors and windows, thermal protection of walls, swap of the lighting and heating systems. Loans for purchasing, improving systems and energy-saving, heating, conditioning, cooling, fridge swap equipment etc. The loans will be provided to companies operating in the alternative energy sphere as well.

According to Osipyan, the annual interest rate of the loans makes 11-14%, loan maturity period - up to 5 years. He noted that it's a pilot program within which the bank will get technical support for working out strategies for energy-saving lending and setting up specialized financial products from the GGF, apart from the loan.