YEREVAN, March 24. /ARKA/. The Armenian-German Foundation and Armenia’s National Mortgage Company (NMC) are implementing My Roof housing financing program, the Central Bank reported.

It said the financing of the program that was launched a few months ago is  EUR 20mln, which were provided by the German Development Bank KfW within the framework of Armenian-German intergovernmental cooperation.

The purpose of the program is to encourage energy-efficient construction in Armenia, support energy-efficient housing and promote the development of the mortgage market.

According to the NMC, the program provides residents of low- and middle-income regions and Yerevan with the opportunity to obtain loans for purchase, repair and construction of housing under convenient terms.

One of the advantages of the program is that the energy efficient loans are offered at lower interest rates than conventional housing loans and under more simplified terms than standard mortgage loans.

Since the start of the program, more than 13 million euros have already been disbursed, 32% of which are energy efficiency loans. -0-