“Jerm Ojakh” will soften winters for Gyumri people [hy] “Ջերմ օջախ”-ը կմեղմացնի ձմեռները գյումրեցիների համար
Gyumri, October 30, 2015.

Cold and long winters are typical for the Shirak region and Gyumri town. In such situation increasing prices of electricity and gas, as well as utility expenses and other household problems are especially significant for people living there. On October 30, the National Mortgage Company has presented “Jerm Ojakh” social and energy efficiency program in Gyumri which could soften the winter problems of Gyumri families. More than two hundreed families in Armenia have already benefited from the opportunity of having comfortable and warm dwellings thanks to this program.
During the community meeting held in the Hall of the Socio-Economic Center of Shirak Episcopate, the CEO of NMC Hayk Voskanyan, “Jerm Ojakh” team, community members, local enterpreneurs, representatives of financial institutions and media have discussed the program, its advantages and prospects for the town and region, loan application proceduresas and eligibility criteria, energy efficient housing and other social problems. “”Jerm Ojakh” program has already provided 205 loans with a total value of more than 362 Mln AMD. In addition, 15 families have already received a grant of 10% of the loan amount which reduced the monthly payments allowing them to ensure better living conditions and save on utility payments”,- said Hayk Voskanyan at the meeting and added that currently it is difficult to find more affordable and competitive loan product in the Armenian financial market.
“Jerm Ojakh” program is developed especially for regions and have been introduced in seven marzes within Armenia. The program offers affordable dram denominated loans for energy efficient renovations with 11-14% annual rate, 5-10 years repayment term and up to two years grace period. Upon fullfilment of specific criteria for energy efficiency, every beneficiary family has the opportunity to receive a bonus of 5 or 10 percent of the loan amount sponsored by the EU Neighborhood Investment facility. “Jerm Ojakh” loans are provided to families by partner financial institutions that have branches in Shirak region of Armenia (complete list of partners is available on www.jermojakh.am website).
“Jerm Ojakh” program is implemented by the National Mortgage Company with the financial support of Agence Française de Dévelopement (AFD). The technical assistance of the “Jerm Ojakh” program is provided by a Consortium of Kommunalkredit Public Consulting GmbH (KPC), with participation of MicroEnergy International GmbH (MEI) and the National Social Housing Association of Armenia (ASBA) foundation and funded by EU-NIF.

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