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The Armenian government seeks to secure a $250 million loan from the Asian Development Bank (ADB) to finance the state housing program for displaced families from Karabakh.
Deputy Minister of Labor and Social Affairs Davit Khachatryan presented the bill on ratifying the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) loan agreement between Armenia and the ADB to members of Parliament.
“The program aims to develop a stable, resilient, and inclusive housing system in Armenia by supporting the socio-economic integration and well-being of families forcibly displaced from Karabakh. The program will be financed through funds from the Asian Development Bank and the Global Concessional Financing Facility. Under the program, the ADB is expected to provide Armenia with a $250 million loan, while the grant funds provided by the Global Concessional Financing Facility will amount to $16.45 million, which will be used to co-finance the loan program,” Khachatryan said.
The program is intended to finance the state housing support program for families forcibly displaced from Karabakh, which was approved by the government in 2024. Families who meet the conditions can apply, receive certificates, and purchase a home in their preferred location.
The Deputy Minister noted that, as of today, 3,810 families have applied for and received housing certificates, of which 1,631 have already purchased a home.