From Idea to an Operational System: How a Structured “Green Loan” Platform Was Developed in Armenia

Today our guest is Aram Andreasyan — the specialist who undertook the task of making a state-backed financial program operationally accessible through digital infrastructure. He developed the portal https://green.nmc.am/hy for the “Green Loan” program implemented by the National Mortgage Company of Armenia (https://www.nmc.am/en) — an institution affiliated with the Central Bank of Armenia (https://www.cba.am/en/) that plays a coordinating role in the national mortgage market.

The project was developed in cooperation with GOPA AFC GmbH (https://www.gopa.eu/en/gopa-afc), with financial support from KfW Development Bank (https://www.kfw.de/kfw.de-2.html), and is intended to benefit low- and middle-income families.

Good afternoon, Aram. Please tell us, what is the “Green Loan” program and why has it taken an important place in the work of the National Mortgage Company of Armenia?

Good afternoon. In practical terms, the program addresses housing conditions, energy expenditures, and long-term household stability. The National Mortgage Company approached the “Green Loan” not as a short-term initiative, but as a structured financial mechanism. Accordingly, the program was designed with sustainability and regulatory consistency in mind.

Is this program limited to NMC itself, or is it broader in scope?

It is broader. The program is structured as a nationwide mechanism. All commercial banks operating in Armenia participate within the program framework. Citizens can approach any participating bank and apply for a green renovation loan, energy-efficiency financing, or housing-related support under standardized conditions. The National Mortgage Company establishes the operational and methodological framework, while participating banks process applications according to unified criteria.

What does that mean in practical terms for individuals?

It means accessibility. The program is not restricted to a single platform or institution. A person does not need to go specifically to NMC. They may visit any participating bank in Armenia and inquire about the “Green Loan” program. The conditions, evaluation logic, and regulatory standards remain consistent across institutions. This unified structure reduces uncertainty and ensures predictability in financial decision-making.

What role does the National Mortgage Company itself play in this system?

A coordinating one. NMC establishes the operational framework and ensures that participating banks apply consistent standards. For the market, this creates institutional reliability and reduces fragmentation.

When did it become clear that a separate digital portal, green.nmc.am, was necessary?

At an early stage. Without a unified digital entry point, even a well-structured program can remain difficult to interpret. Regulatory documentation alone does not make a financial mechanism accessible to citizens. The portal was conceived as a practical instrument that translates structured regulatory logic into an understandable digital format.

Aram, how did you personally become involved in the project, and what role did you take on?

I joined at the stage when it became clear that the solution required more than an informational website. It required a system capable of integrating regulatory requirements, international partner standards, and banking methodologies into a functional digital architecture. My responsibility included calculation logic, system structure, and ensuring methodological consistency within the platform.

How did this project differ from typical commercial developments?

Primarily in the level of institutional responsibility. Approximate solutions were not acceptable. The platform had to reflect precise regulatory requirements because inaccuracies could create financial risk for both banks and citizens. It was designed not as a promotional product, but as an operational infrastructure tool.

Your online calculator became the central element of the platform. Why?

Because it addresses the most practical question: “Does this project qualify?” The calculator evaluates energy-efficiency classification, projected energy savings, and CO₂ reduction estimates based on defined program parameters. It provides structured preliminary conclusions before formal submission to a bank. Over time, banks themselves began using the calculator as part of preliminary assessment, which demonstrated institutional alignment.

Can we speak about the broader impact of the platform?

The platform functions as a standardized reference point within Armenia’s green mortgage ecosystem. By lowering informational barriers and introducing structured calculation logic, it supports clearer communication between applicants and financial institutions. In that sense, it contributes not only to digital accessibility but also to systemic financial transparency.

Aram, what was personally the most valuable aspect of this work for you?

The fact that the system operates as part of long-term institutional infrastructure. The objective was not to create a showcase product, but a durable mechanism that integrates regulatory standards, banking logic, and digital precision into a coherent system.

How do you see the future of green financing in Armenia?

It is closely connected to digital standardization. Transparent and structured digital instruments increase trust, reduce ambiguity, and facilitate market adoption. Sustainable financial programs require operational clarity in order to scale effectively.

Thank you for the conversation.

Thank you. If such systems help citizens make informed financial decisions and strengthen institutional transparency, then they serve their intended purpose.

By Gayane Gaboyan