EBRD and GCF support Armenian green investments

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.