ACBA Bank: USD 5 million will be allocated to development of Green  Economy in Armenia

ArmInfo. As a result of cooperation between ACBA Bank, ACBA Leasing and the GEFF (Green Economy Financing) program of the European Bank for Reconstruction  and Development (EBRD), USD 5 million will be directed to the  development of a green economy in Armenia through financing business  projects in the field of energy conservation, climate adaptation and  renewable energy.

According to the press service of ACBA Bank, the attracted funds will  be provided both in drams and dollars. Thanks to the program,  business entities will have the opportunity to improve the efficiency  of their business using solar photovoltaic stations, energy-efficient  transport and construction equipment, motors and pumps, production  technologies and over 1,500 other highly efficient technologies.   "Green investments in Armenia have a high development potential.  Thanks to this cooperation, we will have an opportunity to promote  the development of these fields by broader means, "said Aghasi  Gasparyan, General Director of ACBA Leasing. In turn, 

Andro Butkhuzi, Deputy Project Manager at GEFF in Armenia, noted:  "GEFF attaches importance to financing technologies and projects that  are highly efficient. And since such investments are highly targeted  and require an integrated approach, together with our partner  financial institutions, we spare no effort to inform and prepare our  clients. An example was the recent joint event with ACBA Bank and  ACBA Leasing, organized specifically for the construction sector  business>.

Leasing conditions within the framework of cooperation are presented  at the following link:  http://www.acbaleasing.am/news/geff.html.

The GEFF green technologies catalog can be found at the link:  https://techselector.com/armenia-am/.  According to the source, since  2019, ACBA Leasing has joined the first phase of the GEFF program and  financed clean energy production amounting to 3.6 GWh / yr,  contributing to the avoidance of 1,864 tonnes of greenhouse gas  emissions per year.