YEREVAN. – Armenia will get a 20-million euro loan from German KfW bank within the framework of the fourth housing finance programs.

The funds will be granted to the banks and credit institutions that will lend them to end-users. The program will last 10 years, but some of its members are willing to grant loans for 29 years.

The Armenian residents will be able to use funds for energy-efficient renovation of the houses (insulation, solar panels and water heaters, economical heating), as well as buying energy-efficient apartments and houses, or building homes. Lending to the citizens will start in February.

The program involves 8 institutions: 5 banks (ACBA, Converse Bank, Armbusinessbank, Inecobank and "Ardshinbank") and 3 credit organizations:
“First Mortgage Company”, “Global Credit” and “Kamurj”.