New support package to fund SMEs in Armenia

New support package to fund SMEs in Armenia

December 21, 2021

The European Bank for Reconstruction and Development (EBRD) is providing a €5 million financial support package to Armeconombank in Armenia to facilitate the private sector’s transition to more sustainable, low-carbon and climate-resilient practices. The project is supported by the European Union, with grant incentives allocated through Armeconombank.

The package is provided under the EU4Business-EBRD credit line, with incentives for on-lending to local small and medium-sized enterprises (SMEs) with export potential for investments in climate change mitigation and adaptation. It will also help SMEs to upgrade technologies and services to EU standards while promoting the use of green technologies. This is the fourth project to be signed in Armenia under the programme.

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 EU standards.

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