EBRD to provide US$25 million to Ameriabank under SMEs, WiB  programmes in Armenia

ArmInfo.The European Bank for Reconstruction and Development (EBRD), as well as donors, have provided a US $25mln to support to Ameriabank in Armenia for  on-lending to private businesses in the country, reports the EU  Delegation to Armenia. 

As part of the financing package Ameriabank will receive US$ 10  million under the Women in Business (WiB) programme for on-lending in  local currency to women-led small and medium-sized businesses (SMEs).  The programme combines financing, technical assistance, risk  mitigation in the form of first-loss cover for local financial  institutions, supported by the Small Business Impact Fund, and  business advisory services to support women-led SMEs. Technical  assistance and advisory services are jointly funded by the European  Union (EU), and Sweden.

Additional US$ 10 million will be to support the development of the  local micro, small and medium size enterprises (MSMEs).

Ameriabank will also receive US$ 5 million under the EU4Business-EBRD  credit line, supported by the EU, for on-lending to local SMEs with  export potential for investments in upgrading technologies and  services to the EU standards while promoting the use of green  technologies.

The EU4Business-EBRD Credit Line is a flagship initiative helping  local companies increase their competitiveness at home and abroad by  upgrading their production facilities and processes to the EU  standards. At least 70 per cent of the loan proceeds will be used to  finance investments in green technologies in accordance with the EBRD  Green Economy Transition (GET) approach. Borrowers are eligible to  receive incentive grants and technical advice, both funded by the EU  under the EU4Business initiative.

Ameriabank is one of the leading banks in Armenia and ranked first by  assets, loan portfolio and clients accounts and deposits. It is a  major contributor to the Armenian economy, with assets exceeding AMD  1 trillion. Being a dynamically developing universal bank, Ameriabank  provides a large package of innovative banking services through its  omni-channel distribution platform and with clear focus on digital  products. Ameriabank is committed to doing business responsibly and  advancing Armenia's transition towards a sustainable future. Since  2015 the EBRD is also a shareholder in the bank holding a 17.8per  cent stake.

The EBRD is a leading institutional investor in Armenia. The Bank has  invested more than ?1.51 billion in 189 projects in the country's  financial, corporate, infrastructure and energy sectors, with 88 per  cent of those investments in the private sector.