Consulting Services, Housing Finance

Brief description of the contract:

Housing finance in Armenia faces various challenges including issues related to affordability, lack of housing supply, backlog of renovation especially in regard to energy efficiency, monitoring and recovery practices, etc. German Financial Cooperation has been actively supporting the Central Bank of Armenia (CBA) – acting via the German Armenian Fund GAF and now the National Mortgage Company NMC – for many years in developing mortgage products that effectively address these challenges. The Project will be implemented in cooperation with Participating Financial Institu-tions (PFIs) as financial mediators via GAF and NMC. The project will be financed by a concessional loan of EUR 20 million under the umbrella of the German-Armenian Financial Cooperation. The German Federal Ministry for Cooperation and Development (BMZ) has provided additional funding as a grant to cover the costs of accompanying consulting services.

Requested Consulting Services:

Grant funds available shall be used to support the partner institutions including the PFIs to manage the programme and to strengthen their capacities. Applicants should have a track record e.g. in the management of Financial Cooperation financial sector programmes, capacity building and training in financial institutions, the design and imple-mentation of Housing and Energy Efficiency financial products and services.