Armenian firms to receive new funds from EBRD and EU
September 21, 2022

Armenian firms to receive new funds from EBRD and EU

The European Bank for Reconstruction and Development (EBRD) is providing a financial package of US$ 25 million to Acba bank to boost lending to micro, small and medium-sized enterprises (MSMEs) and women-led firms across Armenia.

The US$ 25 million financial package was signed by CEO of Acba bank Hakob Andreasyan and EBRD President Odile Renaud-Basso during her visit to the country.

Acba bank will receive US$ 7 million from this package under the EU4Business-EBRD Credit line, which helps local firms become more competitive by improving their productivity, investing in green technologies and increasing the quality of their goods and services. 

Another US$ 4 million will fall under the Women in Business (WiB) programme that promotes women’s participation in business by boosting access to finance and know-how.

The remaining US$ 14 million will support the further development of local MSMEs and help Acba bank expand its lending portfolio. 

The financing will be available in US dollars and/or Armenian dram, thereby protecting borrowers from foreign currency-related risks.

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Press release


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