EBRD to back green technology in Armenia with EUR-2.5m loan

The European Bank for Reconstruction and Development (EBRD) will extend a EUR-2.5-million (USD 2.8m) loan to ArmSwissBank CJSC to support power efficiency and renewable energy investments in Armenia

Co-financed by the Green Climate Fund (GCF), the loan will be beneficial to small and medium-sized enterprises (SMEs) as well as corporations. Under this new Green Economy Financing Facility (GEFF), funding is specific to investments in green technology, such as thermal insulation, photovoltaic (PV) solar panels, geothermal heat pumps and water efficient irrigation systems.

Aside from this, EBRD stated that companies interested in securing a loan for green technologies may also benefit from investment incentives funded by the Climate Investment Funds (CIF).

Back in October 2018, Ameriabank CJSC was awarded a USD 12.5 million (EUR 11m) loan from the European bank also focused on SMEs and corporate investors.

(EUR 1 = USD 1.14)

(USD 1 = EUR 0.88)

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