ArmInfo. ACBA-Credit Agricole Bank within KfW "Energy Efficiency Program for SME" signed a loan agreement with the Central Bank of Armenia aimed at trade and instant lending to SME entities with 11-13.8% interest rate and 2-5 years of repayment term. The maximum amount of loan within the agreement is 500 mln AMD, press-service of the bank has told ArmInfo.
According to the source, GREEN-lending will boost use of alternative sources of power in Armenia and raise efficiency of business processes, which in turn will allow representatives of SME to invest in purchase of energy efficiency mechanisms and equipment and develop infrastructures. In case of necessity energy audit is conducted before providing a loan in order to assess efficiency of future investments.
Additional information about GREEN lending is available on the bank's website: https://www.acba.am/hy/business/get-a-loan/energo-saving-loans
To recall, "ACBA-Credit Agricole Bank" CJSC has been operating in Armenia since 1995. Since September 2006, the majority shareholders of the Bank have been Credit Agricole S.A. (15.56%) and SJSC "Sacam International" (part of Credit Agricole S.A - 12.44%). Along with them, 10 agricultural cooperative unions hold shares in the capital of ACBA- Credit Agricole Bank. By the coverage of the branch network and the number of regional branches, the Bank holds the second position. According to the key balance sheet figures, ACBA-Credit Agricole Bank is in the TOP-5. As of July 1, 2016 the bank is in TOP-10 by the amount of lending to SMEs-33.8 bln AMD or 18% of the total loan portfolio of the bank. In the banks' total lending to SME the ACBA Credit Agricole Bank's share is 6%.
