A new housing partnership for Armenia
In Armenia, Habitat for Humanity is expanding its work in the field of housing microfinance. Such initiatives are seen as a real and effective solution to help disadvantaged families out of poverty housing.
At the end of June, 2011, an agreement was signed with a new microfinance partner, the Kamurj Universal Credit Organization. Since 2002, Kamurj has been a member of the Microfinance Center, a regional network of microfinance organizations based in Poland.
Kamurj’s mission is aligned with the work of Habitat, as it focuses on supporting disadvantaged low-income families who normally cannot qualify for regular mortgages or bank loans.
Habitat for Humanity and Kamurj agreed to launch a six-and-a-half-year project to improve living conditions for low-income families in urban and rural areas of Armenia.
The housing situation in Armenia is largely affected by the devastating 1988 Spitak earthquake that demolished more than 17 percent of the housing stock and left thousands of people homeless. More than 20 years later, many of the earthquake victims still live in temporary shelters, the so called ‘domiks’.
Habitat for Humanity has contributed 480,000 euros (over 600,000 USD) into the loan fund. In its turn, Komurj will expand the scale of the operation by adding 60,000 euros (around 85,000 USD).
The new project will provide loans for home improvements. Loans will be issued to make basic renovations or complete unfinished homes. Habitat aims to support 2,000 families in Armenia.
This initiative is seen as a start of the partnership. It will expanded with time, as both partners will seek additional resources and enlarge the number of families who can apply for the loans.
What is next?
Habitat wants people not only to read about poverty housing but do something to fight it. You can support Habitat’s work in Armenia in a number of ways. Here are some examples:
• Visit our Euro donations page to support projects in Armenia.
• Visit our U.S. Dollar donations page to support projects in Armenia.
• Go to country profile pages to learn about other programs in this country.
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