AFC Increases the Share of Energy Efficient Mortgage Loans in Armenia
In Armenia’s urban economy, buildings are one of the major sources of greenhouse gas emissions. At the same time, they represent significant potential to save energy, through financing energy efficiency construction through international and local financial institutions.
The “Im Taniq” housing finance program initiated its active lending activity in September 2021. Within nine months, EUR 26.3 million were allocated to 683 borrowers. More than 40 percent of the loan amount was allocated to energy efficient housing projects, i.e. purchase of new energy efficient apartments, as well as individual house construction and renovation. The program is being implemented in cooperation with the "German-Armenian Fund" and the National Mortgage Company. 14 partner financial institutions implement the program.