YEREVAN, July 9. /ARKA/. On Thursday, the Armenian government approved the ratification of a financial agreement and the approval of a grant agreement with the International Bank for Reconstruction and Development (IBRD, a World Bank entity) for $284.4 million.
The funds will be used for a program related to housing provision and mortgage market development in Armenia. The financial and grant agreements between Armenia and the IBRD were signed on April 29 and 30, 2026.
The total cost of the program, $284.4 million, is aimed at improving access to housing solutions for approximately 109,000 internally displaced persons from Nagorno-Karabakh, deepening and expanding the mortgage market, and improving long-term development and implementation of housing policy. The program consists of three components: housing subsidies and institutional development support, housing finance market development, program management, communication, and monitoring and evaluation.
The planned funding, which will be disbursed in phases based on the achievement of established indicators and results, includes $240 million (IBRD non-concessional loan funds), $24.4 million in grant funds from the Global Concessional Financing Facility (GCFF), $10 million in grant funds from the Livable Planet Fund (LPF), financed by IBRD surplus revenues, and $10 million in IBRD loan funds to the National Mortgage Company for the implementation of the second component of the program.
Earlier, Armenian Deputy Prime Minister Tigran Khachatryan announced that as of May 31, 2026, 6,444 families, or 26,432 people displaced from Karabakh, had received housing certificates under the state support program.
In particular, according to him, more than 2,970 of these families, or 13,400 people, have already purchased houses or apartments under the program. The total value of the acquired housing is approximately 48 billion drams.
