TA-10358 ARM: Armenia: Preparing and Implementing the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) - International Securitization Specialist (58122-002)

Objectives: 1. The Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) aims to address the long-term, sustainable housing needs of displaced ethnic Armenians who fled to Armenia in September 2023 because of the long-running conflict with Azerbaijan. Approximately 109,000 ethnic Armenians entered Armenia. The Armenian enclave was formally dissolved on 1 January 2024. In support of the Government Housing Program (hereafter “N 710-L”), the program aims to (i) address long-term and sustainable housing needs for the displaced population through stability, economic inclusion, and improved living conditions; (ii) strengthen and restructure government institutions, leading to effective and implementable social housing policies and housing financing practices; (iii) encourage regional development in underdeveloped areas of Armenia, fostering economic growth and community resilience. N 710-L is aligned with the Programme of the Government of the Republic of Armenia (2021–2026). The World Bank will provide parallel financing under a separate lending program with both institutions working collaboratively with the government.