Preparing and Implementing the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) Program (ADB-58122-002)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Armenia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 30, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Armenia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Finance
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 24, 2025

Disclosed by Bank Dec 4, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the ADB, the Transformative Housing Reforms for Improved Vitality and Empowerment (THRIVE) Program 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 amount of indicative ordinary capital resources funding required for the subsequent loan is $250 million. THRIVE is the proposed results-based lending (RBL) program that will be supported by the technical assistance (TA). World Bank will provide parallel financing under their program-for-results financing (PforR) modality, with both institutions working collaboratively with the government and aligning assessments, missions, disbursement-linked indicators (DLIs), and other aspects of their respective programs.

The Technical Assistance will support the preparation and implementation of the ensuing program through a comprehensive set of activities, including due diligence, capacity building, and institutional strengthening. Disbursement-linked indicators (DLIs) will be established to ensure the parallel ADB and World Bank lending programs are aligned with the key outcomes of N 710-L, with DLIs that are efficient for the government to manage and are positioned to maximize development impact. The TA will also identify and address necessary reforms in housing policy and finance during the preparation and implementation phases.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ADB Team Leaders:

Benita Ainabe, Principal Financial Sector Specialist, SG-FIN
Luke Fochtman, Country Operations Head, ARRM, CWRD

No project contacts provided at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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How it works