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The National Mortgage Company has presented the brand of social housing energy efficiency financing program, “Jerm Ojakh.” From now on the program that launched in April 2014 will be circulated under “Jerm Ojakh” brand name reflecting its main goal to create comfort and warmth in each Armenian house. The logo of “Jerm Ojakh” brand has also been developed to raise public awareness about the program, the press service of the National Mortgage Company reported.

The main purpose of “Jerm Ojakh” program is to enable low and middle-income households to renovate their habitation, improve living conditions and quality of life, reduce residential energy expenses, as well as promote the development of energy-efficient housing stock in towns and villages of Armenia. There are two categories of sub-loans offered by the program: micro or small renovation loans (EUR 500 to EUR 4,000, equivalent AMD) and medium sized loans (EUR 4,001 to EUR 10,000, equivalent AMD) with 11-14% interest rate, from 6 months to 2 years grace period and the possibility of getting 5-10% grants depending on the
spending amount for energy efficient renovation and the level of achieved energy efficiency.

The technical assistance of the program is provided by Kommunalkredit Public Consulting GmbH (KPC), MicroEnergy International GmbH (MEI) and the National Social Housing Association of Armenia (ASBA) foundation. The assistance project includes implementation of communication, marketing and awareness raising activities; transmission of knowledge and capacity building to the partners; administration of the bonus granting mechanism and monitoring of the program results.

“Jerm Ojakh” program is implemented by the National Mortgage Company with the financial support of Agence Française de Développement (AFD). The technical assistance component is funded by the EU Neighborhood Investment Facility (NIF).