€10-million loan agreement signed in Paris to support socially vulnerable people in Armenia

18.12.2013 21:10
€10-million loan agreement signed in Paris to support socially vulnerable people in Armenia

YEREVAN, December 18. /ARKA/. Armenia’s National Mortgage Company signed yesterday a 10 million Euro loan agreement with Agence Française de Développement (French Agency for Development - AFD), the Armenian foreign ministry’s press office reports.

The money will be used to offer micro-loans to socially vulnerable individuals in Armenia for home repairs and to raise the level of energy savings.

Representatives of France’s foreign ministry and Armenia’s embassy in France were present at the signing ceremony.

The AFD is a public development finance institution that has been working to fight poverty and foster economic growth in developing countries and the French Overseas Provinces for seventy years.
The National Mortgage Company is a refinancing organization, which was registered and licensed by the Central Bank of Armenia on October 19, 2011. Its sole shareholder and founder is the central bank. -0-


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