ArmInfo. The French Development Agency and the European Union are cooperating on a project of highly energy efficient apartments in Armenia. This was reported by the press service of the French Embassy in Armenia.
"During the cold winter, low- and middle-income Armenian families live in difficult conditions in poorly insulated houses. This is why the French Development Agency and the European Union recently renewed support for the Warm Hearth program run by the National Mortgage Company (NMC). It finances energy efficiency for the most vulnerable families, especially in rural areas and small towns," the French Embassy in Armenia said in a statement.
Back in May 2021, a loan agreement in the amount of 20 million euros was signed between the National Mortgage Company and the French Development Agency as part of financing the "Warm Hearth" energy- efficient housing construction program. This project is a continuation of the first phase of the program. In the second phase of the project, the amount of funding is doubled. Funds (from 275 thousand drams to 3 million drams) under the new program will be provided on affordable terms with a maturity of at least 5 years. In total, about 8,000 households used loans during the project implementation. The program is designed for families with low and middle incomes.
