ACBA-Credit Agricole Bank launched GREEN lending within loan agreement with Central Bank under KfW "Energy Efficiency Program for SME"ACBA-Credit Agricole Bank launched GREEN lending within loan agreement with Central Bank under KfW "Energy Efficiency

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%.