Ambassador: French Development Agency is on Armenia`s side

ArmInfo.The French Development Agency and the National Mortgage Company are celebrating 10 years of  their partnership for the energy transition. Ambassador Extraordinary and Plenipotentiary of France to Armenia Olivier Decottignieshas wrote on X page. 

" The French Development Agency is on Armenia's side: 16 thousand  beneficiary households across the country. More comfort and savings  for families, less energy dependence for Armenia,"  the diplomat  noted.

In 2014 it was reported that in June the French Development Agency  (AFD)  would begin a phased implementation of a program to improve  the energy efficiency of housing and finance microloans. As stated by  head of the marketing department of the National Mortgage Company  (NMC) Mayranush Grigoryan, in connection with the launch of this  program in March, French consultants will arrive in Yerevan: they  will conduct master classes in those banks that will cooperate with  this agency. It was noted that according to the loan agreement signed  between the National Mortgage Company and the French Development  Agency, the agency will provide a loan equivalent to 10 million euros  for a period of 12 years. The program was supposed to finance 3,000  loans for families with average and low incomes to improve their  housing conditions and increase the energy efficiency of housing.   National Mortgage Company (NMC) CJSC specializes in refinancing  mortgage loans provided by credit organizations. NMC has been  operating in the financial market of Armenia since 2009. The sole  shareholder of the company is the Central Bank of the Republic of  Armenia.  The French Development Agency (AFD) was founded in 1998 and  is the operator of the bilateral development of the financial  mechanism of the French Republic. Under the jurisdiction of the  Ministries of Foreign Affairs, Economy and Finance, Overseas  Territories and Interior of France, the Agency is a trade and  industrial state institution, and in developed countries and French  overseas territories it fights poverty and promotes economic growth.  Effective cooperation of the Republic of Armenia with the FAR began  in 2012.