YEREVAN, July 9. /ARKA/. The Armenian government has approved the ratification of financial and grant agreements with the International Bank for Reconstruction and Development (IBRD, a World Bank structure) for $284.4 million.
The funds will be directed to a program concerning housing provision and the development of the mortgage market 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, which amounts to $284.4 million, aims to improve access to housing solutions for approximately 109,000 forcibly displaced persons from Nagorno-Karabakh, deepen and expand the mortgage market, as well as enhance long-term development processes and the implementation of housing policy.
The program consists of three components: housing subsidies and support for institutional development, development of the housing finance market, program management, communication, monitoring, and evaluation.
The planned financing, which will be provided in stages upon achieving established indicators and results, includes: $240 million (IBRD loan funds (non-concessional financing part), $24.4 million – grant funds from the Global Concessional Financing Facility (GCFF), $10 million – grant from the Livable Planet Fund (LPF), financed from IBRD’s surplus revenues, and $10 million – IBRD loan to the National Mortgage Company for the implementation of the second component of the program.
Earlier, Armenia's Deputy Prime Minister Tigran Khachatryan stated that as of May 31, 2026, housing certificates under the state support program were received by 6,444 families, or 26,432 people, displaced from Karabakh.
In particular, according to him, of these families, more than 2,970, or 13,400 people, have already purchased houses or apartments under the program. The total cost of the purchased housing is about 48 billion drams.
