ArmInfo. The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) provide Ameriabank with a loan of $ 12.5 million in the framework of the Green Economy Financing (GEFF) program. As noted in the EBRD report, Ameriabank became the first partner of the European Bank in Armenia to receive a loan under this program. The loan will help SMEs and corporations to invest in green technologies.
According to the source, the Green Economy financing mechanism helps enterprises to invest in climate change adaptation and mitigation technologies, which also contributes to increasing their productivity and reducing costs.
Companies interested in small renewable energy projects can also take advantage of investment incentives funded by the Strategic Climate Fund (SCF) through the Scaling Up Renewable Energy Program (SREP). The GEFF includes a comprehensive technical advisory package, co-funded by the Austrian Federal Ministry of Finance and the GCF, which helps create and test green investment opportunities. GEFF will contribute to the creation of a green economy in Armenia, supporting the expansion of green financing in line with the EBRD Transition to a Green Economy (GET) approach. Possible investments include technologies that contribute to the sustainable use of energy and water resources, such as thermal insulation, photovoltaic solar panels, geothermal heat pumps, energy efficient boilers and water-saving irrigation systems. Enterprises can identify typical green technologies available in Armenia through the GEFF Technology Selector.
Ameriabank is one of the leading banks in Armenia and has been cooperating with the EBRD since 2010, financing SMEs, energy efficiency projects under the Caucasus Energy Efficiency Program (CEEP), women within the EBRD ''Women in Business'' program and local entrepreneurs within trade assitance program. Ameriabank has good opportunities to reach SMEs, corporations, technology providers, manufacturers, suppliers and installers who can benefit from green technologies. Since the launch of its activities in Armenia in 1992, the EBRD has invested 1.2 billion euros in 168 projects in the financial, corporate, infrastructure and energy sectors of the country. Moreover, 88% of investments are directed to the private sector. Since 2006, the EBRD has allocated more than 26 billion euros for projects to transition to a green economy in all 38 operating markets.