YEREVAN, December 16. /ARКА/. At an extraordinary session on Tuesday, the National Assembly of Armenia ratified a $250 million loan agreement with the Asian Development Bank (ADB) under the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) Program.
The Global Concessional Financing Facility (GCFF) will provide an additional $16.45 million in grant funding to co-finance the loan program.
According to Deputy Minister of Labor and Social Affairs Davit Khachatryan, the agreement was signed on October 30, 2025, and is aimed at developing a resilient, adaptive, and inclusive housing system in Armenia for 109,000 refugees forcibly displaced from Nagorno-Karabakh.
The ADB loan has a 27-year repayment term, including a 10-year grace period, and a floating interest rate of 4.93%.
Khachatryan recalled that the Armenian government approved a state housing support program for families forcibly displaced from Nagorno-Karabakh in 2024.
“The program continues to operate. More than 1,600 families have already purchased apartments or houses,” Khachatryan noted.
He added that another 3,810 families have already applied and received certificates under the program, which will enable them to purchase their own homes in the near future.
About the Asian Development Bank
Since 2005, as of October 2025, ADB has provided over $2 billion in assistance to Armenia, making it one of the country’s largest multilateral development partners. These include projects in transport, energy, water supply, and urban infrastructure, while in the private sector, ADB supports utilities and infrastructure, financial institutions, and agribusiness.-0-
