EBRD and EU unlock new funding to support businesses in Armenia
Funds for new, greener technologies
EBRD loan complemented by EU grants and technical assistance
Micro, small and medium-sized enterprises (MSMEs) in Armenia are to benefit from new funding from the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), made available through ACBA LEASING.
The EBRD loan of US$ 5 million (€4.6 million) is complemented by the EU with grant incentives of up to 12.5 per cent of each individual loan to MSMEs and free local and international consultancy services, both funded under the EU4Business initiative.
This new credit line will be on-lent by ACBA LEASING to Armenian firms in the form of leases, enabling them to invest in modern equipment and production upgrades, as well as enhance product quality and strengthen health and safety measures. At least 70 per cent of the loan provided to ACBA LEASING will be allocated to investments in green technologies to help companies develop their environmental practices and resource efficiency.
ACBA LEASING, a leader in the Armenian leasing market, is owned by Acba bank, a longstanding partner of the EBRD, focusing on the MSME and agricultural sectors.
The EBRD is a leading institutional investor in Armenia. The Bank has invested more than €2.4 billion in 220 projects in the country to date, where it supports private-sector development and the transition to a sustainable, green economy.
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Publish date : 2024-10-16 06:06:00
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