AFC Experts Develop a Climate Impact Tool - A Decisive Step Towards Reducing CO2 Emissions in Armenia

In Armenia’s urban economy, buildings are one of the major sources of greenhouse gas emissions. The residential sector’s share in final energy consumption amounts to 36%. At the same time, the building sector represents significant potential to save energy. Realizing this potential is possible through the effective use of modern technologies, reinforcement of certification systems, and financing energy efficiency construction through international and local financial institutions.

AFC’s Housing Finance Project, financed by the KfW and implemented by the National Mortgage Company, intends to address these challenges. The project allows for financing of various loan purposes, for example purchase of housing from primary and secondary markets, renovation, and single-family house construction. The financing is offered by partner financial institutions— leading commercial banks and non-banking financial institutions of Armenia.