IFC to consult Armenian central bank about mortgage lending

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19.04.2009, 03:12

The Central Bank of Armenia (CBA) and the International Financial Corporation (IFC) have signed a protocol, underlining IFC’s intention to consult CBA about primary and secondary mortgage markets.

YEREVAN, April 18. /ARKA/. The Central Bank of Armenia (CBA) and the International Financial Corporation (IFC) have signed a protocol, underlining IFC’s intention to consult CBA about primary and secondary mortgage markets. The consultations aim at developing legislative, normative and market conditions to boost mortgage lending in Armenia.

“IFC and CBA are brainstorming on how to improve living conditions, support civil society in Armenia and boost the loan instruments of local banks ” the CBA press service reports.

As part of CBA-IFC cooperation, from April 15 to April 18, a seminar on the international practice of boosting mortgage lending. Leading specialists from IFC, Jordan, Malaysia and Russia will speak at the seminar.

IFC is a leading international organization included in the WB group. The organization’s vision is to contribute to sustainable inflow of investments in emerging countries and reduce poverty in the world.

Armenia joined IFC in 1995. The organization started to invest in Armenia in 2000. The organization also implements technical assistance projects to improve corporate management and boost investments in small-to-medium businesses. Z. Sh. –0--

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