New SME funding for green transition in Armenia

New SME funding for green transition in Armenia

September 9, 2021

Armenia’s private sector will benefit from new resources for green financing thanks to an US$ 8 million financial package put together by the European Bank for Reconstruction and Development (EBRD) in cooperation with the European Union and the Green Climate Fund (GCF). The funds will promote the private sector’s transition to more sustainable, low-carbon and climate-resilient practices.

The package is being provided to ArmswissBank under the EBRD’s Green Economy Financing Facility (GEFF) programme and the EU4Business-EBRD credit line. It will support on-lending to small and medium-sized enterprises (SMEs) for investments in climate change mitigation and adaptation as well as for upgrading technologies and services to EU standards.

This is the second project to be signed in Armenia under the EU4Business-EBRD credit line. It helps local companies improve their standards, upgrade production, improve employee working conditions and boost competitiveness on the local and international markets. At least 70 per cent of each loan will finance investments in green technologies. Borrowers are eligible for incentive grants and technical advice, both funded by the EU under its EU4Business initiative.

“The EU is committed to supporting SMEs as key for green growth, jobs and building back better the Armenian economy,” said Ambassador Andrea Wiktorin, Head of Delegation of the European Union to Armenia.

Find out more

Press release



Interested in the latest news and opportunities?

This website is managed by the EU-funded Regional Communication Programme for the Eastern Neighbourhood ('EU NEIGHBOURS east’), which complements and supports the communication of the Delegations of the European Union in the Eastern partner countries, and works under the guidance of the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, and the European External Action Service. EU NEIGHBOURS east is implemented by a B&S Europe-led consortium. It is part of the larger Neighbourhood Communication Programme (2020-2024) for the EU's Eastern and Southern Neighbourhood, which also includes 'EU NEIGHBOURS south’ project that runs the EU Neighbours portal.

The information on this site is subject to a Disclaimer and Protection of personal data.
© European Union,