The working group formed of specialists from the International Finance Corporation (IFC), World Bank, Central Bank of Armenia, KfW Bank and USAID held its first meeting to exchange views on mortgage system in Armenia.

The group will assist development of primary and secondary mortgage market, reorganization of legislation, improvement of loan standards and successful introduction of international experience.

"The Central Bank of Armenia appreciates highly the IFC participation in the process," CBA President Arthur Javadyan said.