ArmInfo. The International Bank for Reconstruction and Development will provide Armenia with a $240 million loan for the implementation of a housing and mortgage market development project in Armenia. At its July 9 meeting, the Armenian government voted to ratify the corresponding agreement with the Bank.
The Cabinet's justification for the project emphasizes that the parties signed the agreements on April 29 and 30, 2026. The $284.4 million program aims to improve access to housing solutions for approximately 109,000 people displaced from Nagorno-Karabakh, deepen and expand the mortgage market, and improve long-term housing policy development and implementation processes. The program itself consists of three components: housing subsidies and institutional development support, housing finance market development, project management, and monitoring and evaluation.
The planned financing, which will be implemented in stages based on the achievement of certain indicators and related results, consists of a $240 million IBRD loan, a $24 million Global Fund grant, a $10 million Global Environment Facility grant, and a $10 million IBRD loan attracted by the National Mortgage Company for the implementation of the second component of the project.
By its decree of May 16, 2024, the Government of the Republic of Armenia approved and is implementing the State Housing Assistance Program for Families Displaced from Karabakh. 6,125 families have already received housing certificates under this program, 2,835 of which have already benefited from them. Over 6 billion drams have already been disbursed from the state budget under this program.
