“ImTaniq” Housing Finance Program Has Been Launched

It has been several months since "Im Taniq" housing finance program was launched which is being implemented in cooperation with the "German-Armenian Fund" and the "National Mortgage Company". The amount of funding is 20 million euros, provided by KfW Development Bank within German-Armenian intergovernmental cooperation.

The program aims to promote energy-efficient construction in Armenia, as well as to promote the development of an energy-efficient housing stock and the mortgage market in general in the country.

Withing the framework of the program low- and middle-income residents of the regions and Yerevan have an opportunity to receive house purchase, renovation and single-family house construction loans at very favourable conditions. One of the key benefits of the program is that energy efficiency loans are offered at lower interest rates and on simplified terms than conventional housing loans. Since the launch of the program, more than 13 million euros of loans have already been provided, of which about 32% are loans for energy efficiency.

The loans are provided by partner financial institutions, such as Armbusinessbank, Ardshinbank, Evocabank, Armeconombank, IDBank, Byblos Bank, Inecobank, Armswissbank, Converse Bank and ACBA Bank, as well as Kamurj, First Mortgage Company, Fast Credit and Global Credit universal credit organizations.

One of the long-term goals of the program is to encourage the population to adopt energy saving behavior in general, as well as to apply energy efficiency measures, which will lead to the reduction of carbon dioxide (CO2) emissions and increase the energy efficiency of apartments / houses leading to significant reduction in utility bills.