Proparco line agreed for green energy in Armenia

Development finance company Proparco will support renewables and energy efficiency in Armenia, as well as social housing, agricultural production, education and healthcare, with a credit facility of USD 20 million (EUR 19m).

The unit of the French development agency (AFD) will provide the funds to Ameriabank CJSC under an agreement signed today.

The credit facility comes to expands the collaboration between Proparco and the Armenian universal bank. In 2013 the two agreed USD 15 million in financing for lending to small and medium-sized enterprises (SMEs), renewable energy and efficiency projects in Armenia.

Deputy Minister of Energy Infrastructures and Natural Resources, Hayk Harutyunyan, said on Wednesday, as cited by ARKA News Agency, that investors from Iran, Italy, Spain, China, Poland and Georgia have shown interest in wind projects in the country. According to the report, there are plans for the addition of 200 MW of wind power capacity by 2020.

(USD 1 = EUR 0.94)

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