Thursday, December 19 2013 18:12

Under agreement with French Development Agency, National Mortgage Company to provide loans for 10 years with 2-year grace period


ArmInfo. Under the agreement recently signed with the French Development Agency, the National Mortgage Company will provide loans for 10 years with 2-year grace period.

The press service of the company has told ArmInfo that under the agreement borrowers will be provided with two types of loans: home repair and energy efficiency loans (up to 5.5 mln AMD) and housing improvement micro loans (up to 2.5 mln AMD). The EU will grant up to 10% of the loan amount. Within the frames of the project, a total of 3,000 loans will be provided to low and average income families to improve their housing conditions and enhance the energy efficiency.

The project also envisages technical support and consultation to the National Mortgage Company and other credit companies and banks participating in the project.

To note, the agreement on provision of a 10 mln EUR loan to Armenia was signed on December 17 in Paris between the French Development Agency and the National Mortgage Company, which is to refinance mortgage loans.
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