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The National Mortgage Company (NMC) introduced in Dilijan the ‘Jerm Ojakh’ credit line developed by Agence Francaise de Developpement (AFD) as part of a broader Armenia-wide housing programme for low and middle-income families.

The representatives of the NMC and of the AFD introduced benefits of the programme for Armenian households. 

“Projects like ‘Jerm Ojakh’ are of paramount importance for the long-term strategy of Armenia’s housing finance in general and energy efficiency financing in particular”, - said Hayk Voskanyan, CEO of the National Mortgage Company during the event.

“Energy-saving investments in the residential sector are fundamental for the economic development of the country and also for Armenian people in regions. In addition, those investments are crucial for achieving Armenia’s goals in environmental protection. Our cooperation with NMC gives sustainability to that global target and we are pleased about this positive perspective,” said Bertrand Nora, Senior Investment Officer at AFD, on the sidelines of the Dilijan event.

The main purpose of ‘Jerm Ojakh’, the Social & Energy Efficiency Housing Finance Program is to enable low and middle-income households to renovate their habitation, improve living conditions, reduce residential energy expenses, as well as promote the development of energy-efficient housing stock in towns and villages of Armenia.

Kommunalkredit Public Consulting GmbH from Austria leads the implementing consortium that provides technical assistance to the program and is supported by Armenia’s National Social Housing Association ASBA, Concordiste and MicroEnergy.


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